Today in Commodities: Potential Reversals
March 19, 2010 by Seeking Alpha
Filed under Tips
Original Article from Seeking Alpha Dollar Currencies
Matthew Bradbard submits:
We may have hit a pivotal turning point in a number of markets today. We will need to see confirmation of reversals early next week; stay tuned.
Crude will finish the last trading day of the week 2% lower, but will manage to hold onto the $80 level. April will go off the board next week and May will become the front month. We continue to expect oil to find resistance around $82 and support around $77. We are still suggesting that clients position themselves to take advantage of a probe to the mid $70’s in coming weeks.
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