Monday, September 19, 2005

Crude Oil

In this morning's guesstimate I said that November crude oil would rally a box from its low to the 65.30 level. The updated hourly chart above shows that the market's rally has been even stronger than I anticpated, carrying prices beyond the top of the recent trading range. I think the rally will carry the market up no more than two boxes and stop shy of the 1/2 point of the current box at 67.30.

No comments: