Replies to post #466 on Petroleo Brasileiro S.A. - Petrobras (PBR)

[OilStockReport]

Right a start at best. I think $30-32 is pretty safe based on the technicals and agree completely that until oil starts its next break out most energy stocks won't have any serious upside movement. However I don't assume that will be too far off in the distance based on reputable oil price projections.

"Goldman Sachs and Morgan Stanley predicting that oil will hit $100 next year... that's a realistic projection because supply is at about 85 million barrels a day... the only way to control the demand will be through price" -- T Boone. Pickens, Billionaire Oil Man