PTT : Benefiting for the Arab chaos.
March 26, 2011 Leave a comment
PTT will likely hit 355-356 in coming days, with first support at 345-346 and indeed down to 340 or so.
The problems in the Middle East and North Africa should be enough to force a new multi month high for NYMEX crude in coming days, with PTT likely to test 350 on Monday, and in our view go on to 355 or so during the week.
If crude spikes to US$ 100, then PTT might even get to our swing trade target given several weeks ago at 378-380 over the coming fortnight