Intraday Market Thoughts

Archived IMT (2009.09.23)

by Ashraf Laidi
Sep 23, 2009 15:35

Samples of Ashrafs interview earlier on CNBC discussing the Fed, FX and cost-cutting GBPUSD recovers above $1.64 but 1.6580 emerges as the trend line resistance from the Aug 5 high. Subsequent obstacle stands at the right shoulder of $1.6720-30. OIL FAILS to breach above the 71.80 resistance (mentioned yesterday) before losing more than a full cent. A HIGHER THAN EXPECTED BUILD in US crude inventories (+2.8 mln brls vs expected +1.5 mln) could call up 68.70, which would make a bearish outside day.


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