20.10.2009 - Oil breaks resistance, may climb to $90: Technical analysis

From Bloomberg: Crude oil has breached a key resistance level of $76.28 a barrel, giving it the “capacity” to rise to just under $90 based on Fibonacci retracements, Australia & New Zealand Banking Group Ltd. said. Oil, which is trading near a one-year high in New York, is “taking a pause” to consolidate before moving up toward $89.85 a barrel, said Geoff Clear, the Singapore-based head of Asian commodities at ANZ........................Full Article: Source

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