Monday, June 18, 2007

Crude Oil

My data for crude oil is limited. So all readings is based only on weekly chart.

After consolidating between 60 and 68 region, it seems that it has broken to the upside and ready to rechallenge the previous high of 80.

What does this means? Oil & gas counter should get more fuel to rally. Consumers will most probably suffer. Steep correction in CPO may find support. That's all I can think of.

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