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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3119
Posted: Feb 22, 2010 5:00
Comments: 3119
Forum Topic:
Commodity FX (CAD AUD NZD NOK)
Discuss Commodity FX (CAD AUD NZD NOK)
I SEE LOONIE AT .98
DONT U THINK OIL HAS MORE ROOM TO GO UP.
Your analysis was spot on! Obviously, what it didn't factor in (& shouldn't) is the brazen manipulation taking place on the head of low volumes. Again, your technical & fundamental analysis was correct. Oil SHOULD, and WILL, trade lower...
Asad
But looking at CRB daily and weekly, you will notice the right shoulder resistance standing at 280. Thats also the 61.8% retracement of the decline from the 294 high to the 257 low.
Ashraf
action si to verbally play down the recovery...because the worst that can happen in terms of govt securities is economical recovery if one is going to auction some more US$ trillons of debt.
Good luck with your copper short. I'm thinking of doing the same soon.
G