nblake (User)
Junior Boarder
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NYMEX OIL
by nblake 8 Months ago
Well the press seem to be divided on OIL this weekend.
I have gone short again at 102.
Expecting the sellers to turn Monday & Tuesday.
My short term target now is 95 where we might encounter some resistance then a fall below the 90 mark.
To take place in next 2-3 weeks.
Some in the press think it may bounce but the USD looks set to strengthen now the DOW & S&P have made a short recovery.
Looks like a brutal correction downwards for commidities coming up over the next couple of weeks.