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I am just about finished with updating charts before taking off for the
weekend.... this looks like much more yet on the downside. Possibly a drop to
1200 SPU, then oversold bounce, followed by further declines to SPU 1180 or
thereabouts. That's line in the sand, for now.
Did anyone notice the sharp drop in crude today during last 25 minutes?
I am dabbling in mini crude futures, was short from 67.70, set proft level at
67.15, that I never really expected to be filled today.... market dropped
precipitously, frmo 67.50 to 66 in a few minutes, they say it was short
covering and Katrina not affecting the offshore crude installations in G of
Mex.
And yet, markets could not take advantage of this, SPU rallied to 1211 then
also dropped off during last 1/2 hour. Looks bearish.
--- Ben <profitok@xxxxxxxxxxxxx> wrote:
> Hello
>
> the chart attached shows the perfect stop loss,
>
> when we are in a bull mode it never penetrated the last line from the top,
>
> when we are in a bear mode it acts as resistance, and market keep going
> lower,
>
> how much lower?
> the cash should get support at 1199.13
>
> and for close to be back in an up mode we need cash to close above 1209.25
> Ben
> > No virus found in this outgoing message.
> Checked by AVG Anti-Virus.
> Version: 7.0.344 / Virus Database: 267.10.16/83 - Release Date: 8/26/2005
>
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