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March 18, 2009

Oil will move back to 100 Dollars

The bear market rally in stocks is continuing and not just in the United States but around the world.

The dollar is continuing to soften a bit but not dramatically. I would imagine that if this rally continues the dollar will ultimately roll over as a result.

There is also a lot of strength in commodities. Looking at oil prices, I think crude oil can get reasonably above 50 dollars a barrel. It looks as if is in the process of breaking out after a few months of consolidation.

It will be very easy for oil to move back to at least 100 dollars a barrel. It can easily do it before the end of the year.
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