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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: Maarten Z who wrote (76440)11/20/1999 3:08:00 PM
From: NickSE  Read Replies (3) of 86076
 
Thanks. I'm trying to get a feel of how much oil will retreat come Jan. if the Y2K momo players head for the exits.

Seasonal demands as well as stockpiling of reserves ahead of Y2K places pressure on supply and also the fact that OPEC is still showing unity on their price controls.

Oil - Point & Figure update
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CLZ9 - Dec. 99 Crude Oil - Last 26.60
charts.quotewatch.com
Continues in an uptrend and has recently generated a double top buy signal with a break of 25.0. Support at 24.1 (minor). Price objective based on last signal - 28.0. Upper trading band - 27.6.

CLF0 - Jan. 00 Crude Oil - Last 26.07
charts.quotewatch.com
Continues in an uptrend and has recently generated a double top buy signal with a break of 24.8. Support at 24.0 (minor). Price objective based on last signal - 27.8. Upper trading band - 26.9.

OSX - Oil Service Sector - Last 84.49
204.232.40.6
Continues in an uptrend and has recently generated a double top buy signal with a break of 81.0. Support at 76.0 (minor). Resistance at 91 (major). Price objective based on last signal - 100. Upper trading band - 99.

XOI - Amex Oil Index - Last 530.88
bigcharts.com
Has reversed to uptrend with double top buy signal at 520, but needs to confirm reversal with break of 550. Support at 475 (major). Resistance at 545 (major). Price objective based on last signal - 575. Upper trading band - 585.

OIX - Cboe Oil Index - Last 310.47
bigcharts.com
Continues in an uptrend and has recently generated a spread double top buy signal with a break of 304. Support at 276 (major). Resistance at 318 (major). Price objective based on last signal - N/A. Upper trading band - 338.

Note: Support and resistance price levels are based on an intraday movement and not closing.

Oil Futures
quotewatch.com
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All disclaimers apply and IDKJS.

Regards, Nick
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