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World Crisis scenarios for the 21st Century – Peak Oil (update 13): Looming Oil option price at $140.00 a barrel (Brent crude)

Posted by Adrian on June 17, 2008

World Crisis scenarios for the 21st Century – Peak Oil (update 13): Looming Oil option price at $140.00 a barrel (Brent crude)

With oil reaching a new high of 139.92 (Brent crude close of trading 16th June 2008), it has slid back to 134 – 135. Yes, it looks over bought now under the resistance set at 135, trailing way above the the 50 day average at 123 and the 100 day average at 112. It is however trading with in the trading range of 125 and 140. The 22 CCI is showing steady at 67.27.

I believe we will see oil reach 140 by the 19th June 2008, then drop back into the trading range again. Refer to chart ( please click on graph for larger and clearer quality):

*please note morbius glass does not give investment advice. The following information is for reference only. Trade at your own risk.

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3 Responses to “World Crisis scenarios for the 21st Century – Peak Oil (update 13): Looming Oil option price at $140.00 a barrel (Brent crude)”

  1. Adrian said

    Oil has nudged up to 136, up from 131 ($5.00) from the close 18th June Trading. Although not reaching the 140 mark as yet. The trades are still buying in the trading range of 125 and 140 (refer to graph).

    One could close a position now (profit), or continue to go long to the 140 mark.

    notes

    *Nigerian tensions.

    *Lower inventory oil stocks (US)

  2. […] Brent Crude Oil hits $140 a barrel Posted in Finance and Economics. Strategy and Society by Adrian on June 27th, 2008 As I mentioned in a post on June 17th 2008 under World Crisis scenarios for the 21st Century – Peak Oil (update 13): Looming Oil option price at $140… […]

  3. R. John Burnett said

    Watch for $7.00 a gallon and rationing by mid-2010.. $6.00 for a loaf of bread, and $10.00 for a pound of ground beef by January 2011. Food riots and marshal law before the end of 2011. For those who can afford it; exodus from the cities to small towns and countrysides.

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