PTT : At risk of a pullback to 280-290 or so.
August 30, 2011 Leave a comment
Unless PTT somehow manages to post a huge volume close above the main resistance barrier from 345 to 350 we doubt sub 300 prices can be avoided this time round. It would need a surge in NYMEX crude back above US$ 100/barrel to get there, but we worry it will fall instead, to 300 or so before another weak rebound, then down another 20 Baht or so. At such prices it will be worth a buy again.