Bloomberg: Gasoline Could Fall to $1.76 Within a Month
Submitted by Michael Nystrom on Mon, 08/17/2009 - 10:33
in
Aug. 14 (Bloomberg) -- Gasoline futures may fall from $2.02 a gallon to $1.76 by mid-September and below $1.35 by the end of the year, according to technical analysis by Infinitytrading.com.
The front-month gasoline contract is poised for a slide to $1.9575 within seven to 10 days and then $1.7619 within 30 days, said Fain Shaffer, president of Infinitytrading.com, a commodities brokerage in Medford, Oregon. Prices may then reach the April low of $1.3411, he said.
“We’re coming out of the peak demand time, we’ve seen the highs in the market and could be setting up for a pretty good fall,” Shaffer said in an interview. “I think we may have seen a peak in the market at $2.08. The next objective is $1.95 and from there we could free-fall.”
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They might be rigging the
They might be rigging the price lower so that if we attack Iran, prices will spike back up.
You always should fear low oil prices because there is a financial incentive to create chaos in the middle east to raise the prices back up.
Chaos helps oil producers make more money.
Gas below 2.00
And the dollar at minus .05........
Sounds bout right
Freedom is another way to God...A corrupt government is a straight way to hell.
I believe in Hope & Change..I Hope the government will Change
Spindale-Rutherford County-North Carolina
My theory..
The price of gas is being forced down by supply and demand. Demand will fall further and further due to more and more consumer puchases of better and better mpg vehicles. Say bye bye, Big Oil.
Edit: Say Thank You, Cash for Clunkers!
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It is good and proper to respect the U.S. flag, perpetuated with the blood of American heroes. It is a fatal mistake not to recognize those who wrap themselves in the same flag to cover up their crimes against the American people.
~ Sherman H. Skolnick
. @ @ . Power to the People!
@ O @ -----> PEOPLE
. @ @ . NOT Corporate Entities!
I can only hope.
I can only hope.
cheaper commodities
I have thought the current creep up in oil prices (and prices at the pump) has not been supported by fundamentals. Less expensive commodities are good for humanity, and particularly the poor.
http://FlipFlopRomney.blogspot.com
That's a beautiful
That's a beautiful sentiment.
*******************
It is good and proper to respect the U.S. flag, perpetuated with the blood of American heroes. It is a fatal mistake not to recognize those who wrap themselves in the same flag to cover up their crimes against the American people.
~ Sherman H. Skolnick
. @ @ . Power to the People!
@ O @ -----> PEOPLE
. @ @ . NOT Corporate Entities!
river: I think of his phenomenon as multiple forces at work,..
which are: deflation/inflation vs. supply and demand vs. dollar devaluation vs. manipulation . Oil, and the stock market should be a lot lower like housing prices are now, but they are not. Gold and precious metals should be much higher, but they are not. All of these forces are acting on the other, and removing or maximizing one will affect the others. Now, imagine 2 or 3 moving radically and simultaneously....all hell has the potential of breaking loose. Ergo, these trends are not predictable in the near term, What will be best is to insulate yourself as much as possible from these market and commodity fluctuations.
I think the wealthy, yet greedy Oilmen and BO (Big Oil) CEO's
have been holding the price up for as long as they could, but now the inevitable is upon us all: What goes up, must come down! Bye bye BO!
******************
It is good and proper to respect the U.S. flag, perpetuated with the blood of American heroes. It is a fatal mistake not to recognize those who wrap themselves in the same flag to cover up their crimes against the American people.
~ Sherman H. Skolnick
. @ @ . Power to the People!
@ O @ -----> PEOPLE
. @ @ . NOT Corporate Entities!