Bloomberg) -- Crude oil may rise as high as $80 a barrel as a triangular pattern formed by prices since last month suggests recent gains have further to go, according to Bayerische Landesbank. Crude is set to advance as rising equity markets reinforce hopes that the global economy is on the mend, while a weaker dollar prompts investors to seek a hedge against inflation in commodities, BayernLB said. Since mid-September futures have marked out a triangle that adds to the case for a rally, the bank said.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a0xT_wCWO_uQ
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