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Aden Forecast ". . .oil's leading indicator is rising from a bombed out level with room to rise much further."

ReportEnergy
Date12/13/2009
Loaded Date12/13/2009
TitleEnergy and Resources
Quote"Crude oil, copper, the base metals and most commodities had a great run up this year.

In spite of these impressive rises, oil and copper are the examples showing that the rises have only just begun. . .oil's leading indicator is rising from a bombed out level with room to rise much further.

This doesn't mean a short-term correction won't happen. It will and it's already been happening with oil. Oil is vulnerable below $74 but copper is very strong above $2.95. Both of these markets, however, will remain in solid major uptrends above $63 and $2.30."