City Trades: Peak oil.
Investors Chronicle - magazine and web content, June, 2009
Byline: David Linton
TRADING IDEA: Seasonal factors are set to send the oil price skidding
The oil price is likely to near a peak soon, says David Linton at Updata.
Seasonality is the study of how a particular market behaves over the course of an average year. Looking back over the historic calendar for crude suggests that, by mid-July, we should start to see the price of black gold falling. There have been convincing price targets in the mid-$70s for some time, but beyond that it is hard to see oil rising much further on its present run.
IC Trades are written by Investors Chronicle writers. City Trades are written by selected external contributors. Both are based on the interpretation of patterns on a share price chart, rather...
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