Filed in archive
Hedgetalk
by Alex Akesson on February 28, 2007

$64.15 is a resistance level predicted by Fibonacci analysis, which uses a mathematical sequence to forecast turning points in prices, said Steve Rowles, an analyst at Hong Kong-based CFC Seymour Ltd.
The bank's head of commodities research, Frederic Lasserre, said $64.15 is an "obvious short-term target," based on charts traders use to identify peaks in prices. Futures will extend their 23 percent rally since reaching a 19-month low on Jan. 18 because of investments by hedge-funds and the strength of U.S gasoline, the report from France's second-largest lender said.
"Funds are turning aggressive buyers on most commodities," Paris-based Lasserre said in the Feb. 26 edition of the bank's weekly Oil Drivers report. "Demand is strongly back in the driving seat."
Permalink: Hedge Funds And Oil Predictions
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/55584
Mr Wong
Vote for Hedge Funds And Oil Predictions:
|
Rating: 8.33 out of 3 vote(s) cast.
|
Subscribe
Use the search to look for other interesting posts
| RSS | See all blog subscribe options |
|
What is RSS? | |
| Yahoo! |
|
| Addthis |
|
| Bloglines |
|
| Newsletter | |
| Follow us on Twitter! |
















