* Petroleum Oil Gas info Blog *: Dresdner Kleinwort Technical Analyst says Oil Will Move to 51 USD

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.”

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Dresdner Kleinwort Technical Analyst says Oil Will Move to 51 USD

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Dresdner Kleinwort Technical Analyst says Oil Will Move to 51 USD

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