PTT : Much like CNN, it needs another fix of Arab chaos.
March 29, 2011 Leave a comment
Much like PTTEP, PTT needs a rebound in oil if it is to take out the resistance at and near the 350 mark, and move to the next target at 355-356.
With support from 340 or so to 343, near term direction is a punt on oil futures, which in turn will move according to the level of chaos in the Arab lands. What next? Our bet is for a rebound in oil, and we think PTT will post a more serious attempt on the 350 resistance before the end of the week. However if oil breaches S$102, then its back to 340 or so