PTTEP : Keep an eye on NYMEX Crude for VST direction
March 29, 2011 Leave a comment
PTTEP could break out above 183 and rally to 190 or so if we see a rebound in oil futures, which have drifted down US$ 3 or so since Monday. The stock has support at 180, 178 and strongly at 175, and for the next few days there is room yet for more chaos in the Middle East & North Africa. NYMEX Crude for May delivery (CL1K) will however set stops ablaze if it dips below 102 from the current 103.8 or so, and if this occurs then PTTEP may well hit 178 intra day.