Saturday, February 23, 2013

Oil looks like just a mild bounce before more downside

Oil looks lower, but it should form a Bear flag of sorts here before resuming the downside momentum.

After the kind of move it had, a reversal out of thin air, baring some giant news is unlikely.

Oil snaps 2 days of steep losses, gains modest - SFGate
See Site Index. By early afternoon in Europe, benchmark crude for April delivery was up 30 cents to $93.14 a barrel in electronic trading on the New York Mercantile Exchange.

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