Monday, June 15, 2009

Positioning for the BRIC

To the left is a one minute chart on oil current until 10:40 PM

Brazil Russia India China  hence the BRIC will hold the 1st meeting 
With Kudrin tipping his hand and backing the dollar we can expect at least Russian policy to continue to be geared in that direction. The Euro is rallying here so I believe there will be enough Psychological arguments  to drive the price in both directions this evening
69.9 buy                    Sell 70.70

My intention is to take a short position not necessarily trade so much this evening I was hoping for a nice price and we had one early we may not get it again. 











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