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Monday, November 24, 2008

BetOnMarkets Morning Report

The FTSE currently indicates a higher opening, giving traders some optimism after what was a very bad week. Reports state that the FTSE might get hit with some negativity from the nationwide house prices, however it is very likely that we are going to start the week on a positive note. On another note, construction companies are begging the UK government for aid, pointing to the fact that no help will result in layoffs of almost 300,000 people.

Oil treads water above the 50 dollars per barrel level, however this seems to be a short tread. The long term downtrend is poised to continue and oil is poised to find itself trading near the 45 dollar level before December. Today we might be able to get to the 48 dollar per barrel