Wednesday, June 25, 2008

On Hold for the Fed; Good Oil Bottom

Oil continues to hold in its broad range and as I've said before I think it should be bought around 107, the level it held successfully this morning despite a higher levels of inventory than expected. However, it is still down on the day which has helped to fuel the ongoing rally.

The market has pulled back from its highs but seems to be stalled out a bit prior to the fed decision.

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