CRUDE OIL (#CL) Buy Long Above 100,00 February 09, 2012 (Daily Strategy) 2012-02-09
Crude oil futures trading at USD 99.45 per barrel during the American session, well below its downtrend line, and with an upward trend in the channel, we believe that a break above this level will be the beginning of further increases at least with a target to 108.51 dollars per barrel price.
The momentum indicator is showing bullish signals.
We therefore recommend buying over the price of 100.00 dollars a barrel with a medium term goal to the first monthly resistance at 106.11, dollars per barrel of crude.
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