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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Snowshoe who wrote (27109)8/5/1998 2:46:00 PM
From: Thomas M.  Read Replies (1) of 95453
 
If you look here rgdoczzz.home.texas.net , the next support level for the OSX is in the mid-50's (the level tested in March, June, and August 1996).

The OSX declined 55 points from its October peak, and then proceeded to rally modestly earlier this year. This "flag" allows us to measure a target for this second decline. The OSX broke down out of the flag at about 112, projecting a 55 point decline, to 57.

So, these two basic charting principles give us an idea where the next bounce might come - the mid 50's.

Tom
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