Oil: Where to?

Saturday, October 10, 2009

What`s moving Oil today?

* Oil down around 1 percent in thin trading on U.S. holiday
* Falling oil demand increasingly expected
* Gaza ceasefire and end of Russian gas row add to downside

I am expecting as huge rebound in the next few weeks, probably starting tomorrow. Improving equity markets, ultra low interest rates and 5 year lows on the commodity added to the Obama effect should move risky assets up, including OIL.

When trading oil futures or ETF`s like USO, OIl or DXO look for the lowest comissions. Low round trip comissions are key to profitable trading. That is one of the secrets of sucessful online trading.

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