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Crude Oil Achieves $60 Forecast Expectations for 2017, $80 Next?

Commodities / Crude Oil Jan 01, 2018 - 01:11 PM GMT

By: Nadeem_Walayat

Commodities

Bullish commodity traders and investors in the likes of oil and gold also saw strong positive returns for the year as Oil ended at its high for the year of $60 and Gold at $1310 both inline with my bullish expectations for these commodities for 2017.


In terms of the immediate outlook for oil, the price has broken out of a year long range capped at $56 that it will likely revisit (test) during the next few weeks. Though oil is clearly in a bull market and thus I expect the bullish trend to continue and would not be surprised if we see crude oil break above $80 during the year!

Ensure you are subscribed to my always free newsletter and youtube channel for my forthcoming in-depth analysis and detailed trend forecasts.

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2017 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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