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Tuesday

Mar222011

Crude Oil Update / Potential $3 Move On Tap

March 22, 2011 at 4:05 PM

Crude Oil

Forecast:

May Crude Oil Update (08:43:07 am). David from PageTrader posted this morning that daily closes above $102.05(worst case scenario 101.85) will be the earliest for a March 23^rd (+/- 1 day) daily market bottom and an initial advance of approximately $3.00 off then the current low(today’s current low has been $102.10, so far). Here’s were we stand, the 1^st wave has been completed, today’s high has been $105.18(102.10+3.00=105.10). Tomorrow is the on time date and should offer us an opportunity to participate in the 2^nd leg of the advance or another $3.00 higher. Yes, that means Crude will be pushing the old top or the $108 level.

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