For this to hit $8, which is 144% higher than here, WTI would have to go up 48% from present price in $55s, i.e., to $82s.... in a relatively short time (a few months) with ZERO DECAY, and there's GOING TO BE DECAY because of predictable volatility.... so oilprice would more likely have to zoom to $100 and very, very few analysts see that happening by Summer-Fall.
I think longs on UWTI will be lucky to see $5.00-$5.50 by Summer-Fall with the decay on likely cont'd volatility and our "new era" of oil overproduction and not enough demand this year. $4.00-$4.50 may be a more realistic upside target for UWTI.
