Oil can breach $150 but as European Central Bank raises interest rate this week, smart money is starting to leave the oil pit
Alan Hershey
Jun. 29, 2008

Some oil traders and dealers are fixed on the European Central Bank (ECB) and Federal Reserve’s interest rate policies. Speculators are bidding the oil price higher assuming rate differential between that of ECB and Federal Reserve will continue to widen. However, the smart money has started leaving the oil pit, as oil gets ready for a nasty bear market that can last many years.

Oil futures will soon see their top in a classical blow off bubble burst spike. The oil producers are ready to see $200 oil. Most likely oil will breach $150 and then start a massive nasty many-year bear market.

Oil and gold will both fall together as hyperinflation turns into a major deflation that will drag world economies into deep recession.

The smart money has started living the oil pits in the futures market. The oil related ETFs are getting distributed.

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