Monday, Apr 28, 2008
Oil jumps $1 to record near $120 on strike, worries
reuters: Oil jumps $1 to record near $120 on strike, worries
PERTH (Reuters) - Oil leapt more than $1 to a record high near $120 a barrel on Monday after workers pushed ahead with a two-day strike that shut a major North Sea oil pipeline supplying about half of Britain's oil.
Fresh violence in Nigeria and simmering tensions between the United States and major oil exporter Iran also helped to offset the impact of a rising U.S. dollar to boost oil prices.
Posted by mark @ 10:05 AM (265 views) Add Comment
6 Comments
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1. sold 2 rent 1 said...
The rise to 115 was still within the trend. Any further rise to 130-140 will either be an Elliott wave 5 super spike or a new trend that is being set down.
2. planning4acrash said...
So far as I can deduce, Elliot Wave attempts to explain commodity behaviour in a turbulent, but stable system. I doubt that it predicts the Fed's attempts 2 bring down the whole system with Hyperinflation. A breakthrough could predict the end game.s2r?
3. planning4acrash said...
Remember that the factors touted here give reason for speculators 2 invest hot money in oil. They did not cause the increased money supply which is the sole cause of general price inflation.$supplyincreased by interest rate cuts&the huge bank 'bail outs'.
4. sold 2 rent 1 said...
P4AC,
Read THE METAPHYSICAL NATURE OF PRICE MOVEMENTS
http://www.my-broker.com/zen/index.html
"Scientists tell us that at the time of "singularity" called the "Big Bang" all matter and energy were One. When the negatives separated from the positives, a process was begun through which the building blocks of our bodies and minds were formed. We are the conscious result of that process from the One. As we are part of this process from the One, we are part of nature and reflect these inherent force in our actions and in the marketplace. Price is the end result of all economic and psychological pressures and by examining the patterns of price movements, insights into the hidden forces can be explored. In the following, special attention is paid to the examination of these forces through the graphic presentation of price movements in the market as revealed through the Fibonacci Summation Series, the Dow Theory and the Elliott Wave Theory."
5. planning4acrash said...
You make it 2 complex. These models simply explain the behaviour of turbulent but sustainable systems. All systems can be unsustainable, so a sustained breakout from trend should result in destruction, which is required to achieve new creation.
6. planning4acrash said...
Physical material is governed by timeless physical laws that express relationships between parts that form wholes with greater properties than the sum of their parts.Patterns are recognisable because relationships provide a constant amongst all wholes.