CRUDE OIL (#CL) Buy Long Above 100,00 February 09, 2012 (Daily Strategy) 2012-02-09
CRUDE OIL
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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