long time back i had maintained that the rally in international(wti, nymex etc) crude was just a pullback of previous fall from $150/bbl lvls.
http://valuetrading.blogspot.com/2011/02/mkt-aheadrevisiting-my-views-on-crude.html
but the sudden upmove of last many days on the charts on the back of global events suggests a fresh bullishness might be there in crude and might remain at elevated lvls with slight profit bookings in between, as such the tgt $105-$110(112)/bbl now being revised upward to $120/bbl (with a support near $85/bbl) in intermediate term till further update on this.
http://valuetrading.blogspot.com/2011/02/mkt-aheadrevisiting-my-views-on-crude.html
but the sudden upmove of last many days on the charts on the back of global events suggests a fresh bullishness might be there in crude and might remain at elevated lvls with slight profit bookings in between, as such the tgt $105-$110(112)/bbl now being revised upward to $120/bbl (with a support near $85/bbl) in intermediate term till further update on this.
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