Dresdner Kleinwort Technical Analyst says Oil Will Move to 51 USD

Sunday, October 11, 2009

Oil may rally near $51 a barrel if the market continues to close above its 55-day mean, according to technical analysis by Commerzbank AG’s Dresdner Kleinwort unit.

“Nymex crude continues to show signs of embryonic recovery in its range,” Dresdner analyst Karen Jones said in a research note today. “We look for recovery to $50.50 to $51.”

Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.


Post a Comment