Crude Oil: US$100 by mid 2010

More affirmation for Darryl Guppy's expectation of US$100 for crude oil through his TA - “As far as current demand trend shows, we will not be wrong to expect the price to rise as high $100 by mid 2010. We are not only seeing a better crude demand but also a better demand for the refined products,” said a Dubai-based trader. Dubai based traders reiterated that they expect the bull run to continue this year.

The comment comes in tandem with the views of Barclays Capital which said that crude demand will rise to a high of $100 a barrel this year, but will average at about $85 a barrel.Oil prices expected to hit $100 in 2010 say Dubai traders

What do we do? Well, this is good news for crude palm oil (CPO). Consider this: Crude oil: Update

Healthway Medical - Rising too quickly?

Healthway Medical opened nicely enough as it gapped up at 16.5. The buy up at 17c which we identified as an intermediate target was fierce but 17c proved ultimately too strong to be taken out today even as trading volume increased. Closing at 16c is a sign of near term weakness. Any decline in price will find support at 14.5c, the top of the previous cup formation which was resistance and now turned support. Any further decline in price will find support at 13c where three rising MAs are converging. This might just have been a case of rising too quickly as we see the MFI crossing into the overbought territory.

Fundamentally, Healthway Medical provides much better value compared to its peers. This picture has not changed. Any short term weakness in price will provide an opportunity for investors who have been waiting on the sides to jump on the bandwagon. Eventual target remains unchanged at 19.5c.