CRUDE can crash $62 in my view we would see technical reason demand & supply reason for crude crash. TECHINCAL REASON crude has formed a island reversal $76 around levels which is a bearish sign and next support for crude comes at $68&$62 and any island reversal would give a 20% downside or a upside so the price $62 would be possible soon. DEMAND &SUPPLY reason Middle East seem to return to peace and there was a statement from IRAN FM that they would wish to settle the nuclear issue, high crude prices normally pushes down the demand and with no major natural calamity like hurricane & cold winter things looks good for a fall, there was one interesting report which surprised by saying India consumed 3.5% less crude than last year so which goes to prove alternate energy source, fuel efficient automobiles, electrification of many rail route and use of CNG can be reasons and with many biofuels used and many new well dug things can change in near future there is a possibility of crude touching $45-50 in 12-15months time . BENEFIT India as a nation would gain immensely any fall would add to balance of payment as imports of crude is the single biggest component and many more are there. Thursday, August 17, 2006
CRUDE can crash
CRUDE can crash $62 in my view we would see technical reason demand & supply reason for crude crash. TECHINCAL REASON crude has formed a island reversal $76 around levels which is a bearish sign and next support for crude comes at $68&$62 and any island reversal would give a 20% downside or a upside so the price $62 would be possible soon. DEMAND &SUPPLY reason Middle East seem to return to peace and there was a statement from IRAN FM that they would wish to settle the nuclear issue, high crude prices normally pushes down the demand and with no major natural calamity like hurricane & cold winter things looks good for a fall, there was one interesting report which surprised by saying India consumed 3.5% less crude than last year so which goes to prove alternate energy source, fuel efficient automobiles, electrification of many rail route and use of CNG can be reasons and with many biofuels used and many new well dug things can change in near future there is a possibility of crude touching $45-50 in 12-15months time . BENEFIT India as a nation would gain immensely any fall would add to balance of payment as imports of crude is the single biggest component and many more are there. 
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