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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (8162)	4/25/2005 7:15:06 AM
From: Walkingshadow	of 8752

I noticed oil was trading up today, while stock index futures were flat or down a tad. Oil formed a double top, but now is looking stronger again. I have a feeling the double top will win out there eventually, and we'll see oil settle into a trading range for a while, maybe between 51 and 55 or something. I'm sure all the producers would be happy with a tolerable but high price of oil indefinitely. It's starting to look like we'll see the markets open down slightly, then retest support from Friday at $34.80 before moving higher. I suspect we will again see a lot of volume as that support level is approached. T

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