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Crude Oil Lt Sweet Pit (Nymex)
 
20 March 2008

nymex20080320.gif

Crude Oil (May 08) intraday: The downside prevails
  Pivot: 104.15

Our preference: SHORT at 104 with targets at 101.3 and 99.8.

Alternative scenario: A penetration of 104.15 would call for 105.04.

Comment: The price fell below its 60-min 20MA. The RSI doesn't show any clear reversal signs.

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