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Wednesday, January 17, 2007

Curde Oil Making new lows

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Crude Oil making new lows with a still strong overall bearish sentiment. Market is focused on OPEC announcements and possible production cuts than tightness in the stock levels.
We do not want to fight the trend. 50.15/49.55 remains the big target. Below not much before 45.50 levels.
Intraday Resistance 51.40.
US Inventories coming out tommorrow.
Precious Metals reacting on the downfall of crude.

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