VIX, Oil, BRICS & Sterling's Sell-Appeal

Interesting comment from CIBC

"Jeff Rubin at CIBC World Markets in Canada predicts $200/bbl coming very soon. He correctly predicted the price of oil reaching $50 in 2005 and $100 in 2007. The year 1966 was the peak for discovery of new oil fields. Production declines by 4 million bbl/day/year because of depletion. The industry must discover reserves over the next 5 years that will add 20 million bbl/day of capacity. A new oil sand project in Canada can carry a price tag of $90/bbl. Demand/depletion will push up price."

Morning guys, :)

Ashraf
Because it being labor day in America, do you think the market will be quite slow ?
:) ~

you should have paid an extra fee for international shipping ,I get it in 48 hours.

It would be good if the forum could be a little bit more technical and less fundamental that way I think there would be more objectivity and less personal abuse which serves no purpose. Regarding the GBP for example the fundamentals have always been very poor, when it was 1.38 to the dollar and when it was 1.70 to the dollar so there are other technical/speculative reasons for its return to higher level and it would be more interesting to talk about those, if you are interested in trading. The oil thing is confusing, probably due to long gold play which may just be technical breakout or may be China diversifying out of treasuries , but this is such an old story. On a technical level oil is above 78.6 fib of its its hi/lo swing and needs to break that to become bearish again I would look for it to break 65.5 for bearishness to continue and on upside watch 70 and if it breaks 71.40 more than likely it gets to 75 again.