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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?


To: E_K_S who wrote (47918)5/16/2012 6:34:51 PM
From: Johnny Canuck  Read Replies (2) | Respond to of 69827
 
There is some really strong support in that $105 area. A break of that level would indeed lead to support in the $75 to $80 a barrel for BRENT oil. Oil looks like it ready for an oversold bounce here though.

At that $75 level Tar Sands oil become a negative margin product for a lot of Canadian E&P companies.