6th April 2009 Light CL Chart
Looking at the chart attached, you can easily see what is the trend now that the oil had rebounded back and soon to test the resistance level.
It crisis in North Korea might had partially affected oil prices as Iran IS a close ally to the communist state, if there is a war…Iran probably join in the fight or mix into the chaos and “kick the ass of Iran’s own enemy”.
Now that the “rocket” had been launched and not much information was revealed on the nature of the rocket.
The North Korea official says it’s a successful launch of the satelite yet there are news that it’s a failure…It’s hard to determine who is right or wrong but it’s the “measure of success” that is important.
To North Korea, shooting the “satelite” may have two milestones…
- Test if they can shoot a satelite – probably military in nature – into space
- Test if they can shoot a missile further then previous prototype
Either this two goals is reached, it’s a success.
Obama is obviously furious on the very idea that North Korea even dare to launch the rocket even thou he had given North Korea plently of chance for peaceful negociation.
Now the punishment may be more severe then what BUSH may had given as previously Bush had ignored “rouge” nations that have no oil.
Obama will be the actual leader that actually care for the world regardless if they have anything in return…and this might be just the begininig of the new era of peace….or pure anachy.
Now that N.Korea basically thinks they are “invunerable” to outside attacks regardless of economic sanctions or threats of military “punishment”, what will be the decision of the world leaders?
Catch the next installment of this highly anticipated drama as we watch the oil price rise above the support level or goes down punishing the oil investors…time will tell.
Popularity: 1% [?]
