Hey guys - I'm looking at taking some profits on my OPC but I'm having trouble pulling the trigger as the price of oil keeps rising.
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Short Term Oil Prices
Hey guys - I'm looking at taking some profits on my OPC but I'm having trouble pulling the trigger as the price of oil keeps rising.
Where do you all see oil going over the next month or two? Are we in for a drop-off after this $10 jump in May? Or will the momentum continue for awhile?
Hard to tell. Opec wants oil to be around $70-75. I wouldn't be surprised if it hit that in july/aug.
But as with many things these days, oil no longer trades on supply and demand functions, it's mostly a political game with a whole lot of speculation thrown in.
Yeah, I'm waiting for oil to hit $75 Then I'm going to sell out gains after OPEC makes their first announcement that they are going to begin to ramp up output.
Fairly safe bet that way, I just can't see oil taking another big dive, especially with the summer coming shortly.
I could be wrong though, lol.
