"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Tuesday, May 6, 2008

Oil

Remember the reverse symmetrical triangle I used on the COW to find trouble ahead for the HUI? Well, here it is showing up in oil. At a time when everyone is convinced the sky is the limit. Of course, I am the guy who has been a chronic top caller of this market for some time now. Well, why change now? USO to 97.70 and then reversal it says here. ;-)

Edit (5/7 @ 8:15 am) 5 day Oil chart