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Pastimes : The Philosophical Porch -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (3042)	6/3/2008 12:34:02 PM
From: Mannie	Respond to of 26251

The global slowdown which began last year is still in its early stages and should radically alter the current supply/demand dynamic. Moreover, I expect the US Dollar to recover a bit this year, which will put additional pressure on crude oil and other sectors which have benefited disproportionately from a weakening dollar. $136.188 is the 423.6% Fibonacci extension. I agree in the near to mid-term, but, I think oil will be much higher in the future. Alternative technologies are going to have be developed, and adopted, very quickly to avoid that end.