The price of WTI Crude Oil hit a 7-month low of $42.75 in New York trade last night. As a result, shares of CTX have opened 1.5% lower near $31.20.
Last week we suggested that clients take profits in CTX long positions in the $34.00/25 area.
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We will look to re-enter long positions for a reversion move higher back into the $34.00 area over the medium-term.
Caltex
