Saturday, March 08, 2008

A Quick Look At Energy


$NATGAS, (Natural Gas) came tumbling down from it's spike high during and after Hurricane Katrina in AUG 05. Since then it had been building a base for about two (2) years and has just kissed overhead resistance at the DOUBLE DASHED MID-LINE. Although we could see a pull back in the intermediate term we would of cause be buyers on a break out above that resistance...


$WTIC, (West Texas intermediate Crude) finally broke above the $98 level after three attempts at doing so. At this juncture, that former resistance level must be eyed as firm NEAR-TERM SUPPORT with all of this Recession buzz, we still can't get this thing to move lower...


$GASO, (Gasoline) recently broke above its previous high although its consolidation pattern doesn't appear to be as tight as that of CRUDE. However, the previous resistance levels must now be respected as good NEAR TERM SUPPORT

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