John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (431)	4/1/2000 7:56:00 PM
From: John Pitera	of 33421

Update On Crude....As I pointed out in this March 14th Post Message 13200056 Crude has made a significant top of at least intermediate term magnitude. after topping above 34$ on the nearby april contract on March 7th. we had a quick 4$ sell off then a rally back to just over 32$ a barrel, which could be seen on the chart from the 14th. geocities.com On the New front month contract of May we fell all the way to 26$ on March 29th. geocities.com we should have resistance overhead at the 27.87 area and then 29.50. I have outlined the support areas below of 25.12-25.50 which is the area of the burgendy uptrend line and the 38.2%retracement. We should ultimately see a decline to the 50% pullback area of 22.75$ which is also where the 200 dma is currently. John Special Congrats go out to Jan E's Father who was very adament about wanting to short Crude on Monday March 6th. He was very firm in his opinion, at our Reno Get together dinner on Saturday March 4th. Way to go Captain!!

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