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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
Most of Lybian oil fields are in the eastern part of the country where Qadaffi apparently lost control.
Oil went up because of fear of he sending the army there to take control back.
So if Qadaffi is out of the game, then this fear is going to be priced out of crude oil price.
i'm expecting test above 1.40 level in coming weeks...
if we keep pushing higher and break the previous high(3861)... expect continuation to 3950/60 b4 correction down... then higher to 4150 level..
if 3704 support breaks first.. expect correction down to 3650 intially then possibly to 3570/80 b4 heading higher to 3950/60 then 4150...
What I wanted to mention is that we are witnessing the beginning of unwinding of speculative trades expecting another Armageddon. So watch out for this sooner than later.
Gold is already below 1400.
Game is on. Watch out.