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Wednesday, September 14, 2005
Here is an updated hourly chart of October crude oil. The market has rallied past the top of its last trading box so now is making an attempt to reach the 1/2 point of the current box at 65.30. I don't think it will make it all the way there. Then it will drop to the next short term target near 60.60. I think crude will be near $56 in a month or two.