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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.72

-0.1%

Jan 16 4:00 PM EST

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To: Johnny Canuck who wrote (47907)	5/16/2012 6:26:37 PM
From: E_K_S	Read Replies (1) of 69827

Hi Johnny - Any thing in the long term chart that could substantiate a fall in Oil to $74.00/barrel? Another technician (on TFNN) was reviewing the oil market and pointed out that Oil could fall to $74.00/barrel. FWIW, he also sees "fast price destruction" in the $SPX down to 1266. Wow, what a wild ride that would be. The argument for lower oil is due to an extremely strong dollar $US (ie. flight to quality) making commodity prices move "substantially" lower. Video: youtube.com Also looking for other opinions to substantiate possible trend. EKS

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