http://af.reuters.com/article/cameroonNews/idAFN2932270320110329 "The complex maintained a downward course that began last Friday with the market responding at least partially to expectations that Libyan oil exports could be resumed to at least some degree as opposition forces take control of some key oil ports," Jim Ritterbusch, president at Ritterbusch & Associates, said in a research note. Ritterbusch cautioned that he sees, "such a development as heavily challenged by operational, legal and various logistical issues," but he noted a, "shift in market psychology that is forcing some liquidation out of the oil market." * Europe's prospects of receiving Libyan oil shipments would be weeks away even if rebels were quickly removed from the international sanctions list, as big buyers say shipping and legal risks remain a concern. [ID:nLDE72R1X7] * Saudi Arabia plans to boost oil rigs by 28 percent. Two Saudi officials told Reuters that the extra rigs would maintain rather than increase capacity. [ID:nN28209969] * Plutonium found in soil at the Fukushima nuclear complex heightened alarm over Japan's battle against the world's worst nuclear power crisis in 25 years, as pressure mounted on the prime minister to widen an evacuation zone. [ID:nL3E7ET0PZ] * Yemeni protesters demanding the ouster of President Ali Abdullah Saleh said they would insist he leave power soon. [ID:nLDE72S111] * Tens of thousands of Syrians held pro-government rallies as President Bashar al-Assad was expected to address the nation after two weeks of democracy protests. [ID:nLDE72S0K2] * Saudi Arabia is printing 1.5 million copies of an edict by religious scholars outlawing protests in the kingdom as un-Islamic, the state news agency said. [ID:nLDE72S097]
Today price action resembling yesterday's We may have retest of 103.50 , but it will test patience to hold draw downs
I am new to the markets; does CL usually hit 61.8 retracement during the day. I hope not. I am long 2 at 104.24.