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Forex Commentaries and Forecasts
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New psychological Oil breaks above $120 today
Tue, May 6 2008, 18:33 GMT
by Peter Mill
Forex Trading Signals and Daily Strategy
Live Forex, Stock, CFD, Gold and Crude Oil signals by World-Signals.com.The Crude Oil breaks the records by the last week in spite the strong dollar. Although that the dollar is trading almost 500 pips far from the record trading levels of 1.6019 against the euro the oil set new record. This is the first break of the oil above the levels of $120 per barrel. The tendency for continues rising of the oil prices is significantly this week when the dollar is stronger. The oil will move above $120 for barrel this month as will continue to close to the levels of $130 at the end of May said Scott Brown energy expert in World-Signals.com. Mr. Brown predicted the raise of the Crude Oil to $120 in April in earlier forecast this year.
The last Crude Oil record is at $122.63 and that would not be all as the forecast remain for continue upward movement.
Published on Tue, May 6 2008, 18:34 GMT
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