December 11, 2008
To buy or not to buy
Story link: To buy or not to buy
The question is how far oil will drop before it continues on an upward trend. Another question of course is what price oil will eventually settle at. My view is that it will make a good long term buy now, even if it does go down in the short term.
No one could have imagined a little over 4 months ago with crude oil trading at $147, that crude oil would have crashed by 70% and be threatening to break below $40 so soon. Therefore this analysis seeks to to evaluate the prospects for crude oils future trend over the next 12months in determining whether crude oil today is a good buy or not.