WTI might move lower as the Dollar gets stronger
From a fundamental point of view, US Crude has moved with the Dollar since last fall almost on par.
Considering the USD will go up again with the latest job numbers, rate hike (most likely an announcement will be out sometime soon - 2-3 months and problems in Europe (Grece, Ukraine), and considering the underlaying fundamentals for Oil haven't changed, I'd say WTI will go down again until everyone will hurt bad enough ($35-$38) and for long enough (Mach-April, that's about 4 months of $50 oil).
Yes, some conflicts going on in the Middle East, but nothing major - what do you think, will technical wishfull thinking overpower these (I'd say) pretty heavy arguments?
Considering the USD will go up again with the latest job numbers, rate hike (most likely an announcement will be out sometime soon - 2-3 months and problems in Europe (Grece, Ukraine), and considering the underlaying fundamentals for Oil haven't changed, I'd say WTI will go down again until everyone will hurt bad enough ($35-$38) and for long enough (Mach-April, that's about 4 months of $50 oil).
Yes, some conflicts going on in the Middle East, but nothing major - what do you think, will technical wishfull thinking overpower these (I'd say) pretty heavy arguments?
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