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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Cal Gary who wrote (8525)	12/12/2001 12:46:35 PM
From: Cal Gary	Read Replies (1) of 24921

I'm doing my rounds with some of my charts. Revisited ELK's chart. Caught my attention again. The head and shoulder pattern that started in July has all the looks of H&S but the volume did not confirm. Textbook H&S says large vol on left shoulder, less vol into the head, and larger volume on the decline from head and right shoulder. This did not happen with ELK. But nice chart painting none the less. <g> Since breaking the 3.80 neck line, its has only managed to touch 3.10 low. So much for the H&S. I'd say its over. Since halloweeen, and break of the neckline, ELK is forming a nice symetric triangle. All technical indicators have changed to the positive. Solid support at 3.25-3.30. Bollinger bands narrowing. Perhaps a major move is around the corner. Like last time, anyone here following ELK can provide some FA? Thanks.

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