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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8936
Posted: Feb 22, 2010 5:00
Comments: 8936
Forum Topic:
Gold, Oil & Indices (Equity & Bond Indices)
Discuss Gold, Oil & Indices (Equity & Bond Indices)
ES 1317 is LVN
stalking short around 1310 and 1317 next.
Egypt is not an oil exporter, and only about 1.8 million barrels a day move through the Suez Canal, which it controls. That's just 2% of the world's oil supply.
Another two million barrels a day can go through the Sumed pipeline, which also runs through Egypt, connecting the Red Sea to the Mediterranean.
As long as Saudi Royals don't get beheaded and Ahmadhinjad gone fishing I see no risk for WTI and little for brent
One can make a point that China's pro inflation and pro growth policies, fuel inflation worldwide, food prices increase, which in turn is a reason for the protests in Magreb and Middle East. So at the end of the days China could be the reason for reform in Magreb and Middle East. China's leaders should receive a nobel price for DEMOCRACY.
LOL
Blow off top is highly likely. It could go even to 1312 today or tomorrow. And from there expect 20-30 pts down similar to last Fri.
BTW, rice now up 5% in two days. This is getting crazy. I do not see how contagion in other Magreb & Mid East countries could be avoided.