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Oil prices set to pivot around $80

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Uploaded by on Jan 20, 2010

www.tradingfloor.com
The rush to get into commodities at the beginning of the year has slackened significantly, but the market is now waiting for the follow-through, according to Ole Hansen Senior Manager for CFDs and Listed Products at Saxo Bank. With speculative longs on oil at an all-time high and OPEC compliance down to 52%, oil looks to hang around the $80 level.

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