One of the
very essential commodity for financial world and common people CRUDE
OIL.As US presidential election coming near Oil prices are also three
months high and its one of important issue in election.
During his acceptance speech at the Republican convention, Mitt Romney faulted
President Barack Obama because “gasoline prices have doubled” on his watch,
while lamenting the plight of a hard-pressed American “watching the gas pump
hit $50.” Message: You won’t have to do that when I’m president.
If Mr. Bernanke come up with QE3 in next FOMC meeting
definitely it will push OIL higher
probably above 100 which push US GAS near or above $4 which can be big draw back
for President
Obama .Apparently after lackluster latest job report there are very high probabilities
of QE3 or other kind of stimulus by FED.But again I
personally believe that Mr. Bernanke will wait till December FOMC meeting as in
last Mr.Draghi’s press conference he announce unlimited bond buying he will
choose to wait , However if he does in September meeting it’s not going to help
President Obama in fact it might spoil his party by higher oil prices.
The possibility that strategic oil reserves may be released by the
United States and other major oil consumer governments hemmed in oil prices,
after U.S. government officials met oil market experts on Thursday as the White
House considers the merits of another release but major tensions in the Middle East, easing supply overhang in the US and a
tight global demand-supply balance will support prices.
On the whole including
technical I believe that till election Crude oil will move between
$ 103 to $ 92
Great tips, I like the guidelines you've laid out here...helpful!
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