This was my forecast for Oil made on March 13th, 2011:
"Crude has been inversely correlated with the markets since Libya. I think that may be about to change. $WTIC may be very near a short term bottom (early this week). So I think crude may actually rise now with the markets. A possible next target is $119. The media will probably say this is evidence of economic recovery.
There is talk of crude jumping to $150 - $225. I don't see this happening. Crude probably tops in April, and I'm very bearish on crude from that point."