Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: GraceZ who wrote (21466)	1/16/2005 7:51:20 AM
From: Square_Dealings	Read Replies (1) of 116555

There's potentially a huge head and shoulders on oil looking at the weekly chart. It is potentially at the top of the right shoulder now. It could go either way at this point imo. stockcharts.com[h,a]wacaynay[de][pc40!b8!f]&pref=G The action in grains and gold doesnt look all that encouraging for the inflation camp and based on that I wouldnt be surprised to see oil prices to top out soon. Oil demand must be going down otherwise airlines wouldnt be starting fare reductions imo. A few more natural disasters and any kind of hiccup in China and I think oil demand could plunge. M

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