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To: NOW who wrote (301)8/13/2003 12:45:48 AM
From: John Madarasz  Respond to of 1417
 
After alot of review, I still think the smaller Inv H/S pattern is still in play on the daily forming from Jan 2001...that patterns measures to 45-47

I do not believe now that the larger Monthly H/S pattern from 1994 is in play (that measures into the 60's) drawn back in May, mostly based on volume studies...I now favor a larger range after the 47 measurement gets taken out. Macro situation will dictate from there...take it week by week

Regardless...sustained higher price levels of crude will effect bottom lines here, and could hinder long term growth prospects for industry etc.

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