OIL.WTI ($101.63) - Posted on 16th June when it was traded at $97.84 "Above $98.97-100.15 upside target $113.68-113.98" as posted it broken 100.15 on 03rd July and from there it moved up and made high $ 112.21 on 28th Aug. (short fall of almost $ 1 from the mentioned upside target) and from there it is coming down and as on yesterday it made low $101.04. now what next ? Resistance $ 102.2-104.20 if not move beyond that, then the ultimate down side target $ 94.40-92.20
CRUDE OIL ($ 97.84) - Now Going to face hurdle at $ 98.97-100.15 But in case trade and stays above that then the short term upside target $ 113.68-113.98
CRUDE OIL ($ 89.19) - Now, It is in half way mark of 2008 high and low. From here what next ? If it trade and 2consecutive close above 92.80, then shortly going to attack 110.06. That is almost 25% rise from here ! If it happens, think about our Oil bill, Balance of payment, GDP growth and last but foremost, as a market participant point of view, think about Stock Market ? Our wish it should not happen but the Numbers says so.....
CRUDE OIL - Last six months fall already arrested around $34. Jan.09 price movements once again confirmed it GOLD - Fresh upmove resumed. Breaked the in-between resistance of $ 925 .
CRUDE OIL - Now nearing the expected target of $ 101-98 (refer 09 August 08 posted opinion). May expect a very good bounce from there. dead cat bounce or dead rat bounce (whatever you call it). But. But.. If It it close below $ 99-98 in two days in a row then may expect $ 85-82.
CRUDE OIL gave the TOP OUT signal on third week of JULY 2008(refer july 18, 2008 posted opinion), now the fall is going on. May expect optimum downside target of $ 101 - 98 levels.