In regard to my recent fundamental, technical, and sentiment analysis comments regarding crude oil prices, NYMEX futures for the April contract traded down today $1.12 closing at $54.26. This was 65 cents up from the low and 94 cents off of the high.
In after hour trading at 11:59 p.m. EST, the commodity is trading down 50 cents at $53.04 per barrel, which is $2.61 lower than yesterday’s high.
Lark, what does that “mystical†25-year vet have to say about this? I would like to read his "so called" expert opinion.
In my opinion, in the short-term there will be some increases due to some short covering and bullish speculators, but the trend should continue down in anticipation of next week’s OPEC meeting in Iran. I’m hopeful crude oil prices will stabilize around $45 per barrel, which could be a good time to hedge. At this level, I believe US Airways can post a profit with the updated Transformation Plan.
Regards,
USA320Pilot
In after hour trading at 11:59 p.m. EST, the commodity is trading down 50 cents at $53.04 per barrel, which is $2.61 lower than yesterday’s high.
Lark, what does that “mystical†25-year vet have to say about this? I would like to read his "so called" expert opinion.
In my opinion, in the short-term there will be some increases due to some short covering and bullish speculators, but the trend should continue down in anticipation of next week’s OPEC meeting in Iran. I’m hopeful crude oil prices will stabilize around $45 per barrel, which could be a good time to hedge. At this level, I believe US Airways can post a profit with the updated Transformation Plan.
Regards,
USA320Pilot