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kipp440

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kipp440

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Re: None

Monday, 11/05/2007 8:15:24 PM

Monday, November 05, 2007 8:15:24 PM

Post# of 174023
Oil Guess Charts

Oil prices with an RSI of 67 have more room to move higher:

http://stockcharts.com/charts/gallery.html?$WTIC

The P&F says $109 fwiw (ask Len about P&F charts for those who were not on RB with us during the "Low Float Mania".)

Another chart that influences oil prices is the US Dollar. If oil prices are going to tank, the dollar needs one heck of a rally. Look at this chart and ask yourself if you see any near term bottom forming:

http://stockcharts.com/charts/gallery.html?$USD

The dollar chart has an RSI of 30 fwiw.

Toss politics, hedge funds, etc. in the mix and who knows what the price will do!?!?! It will be interesting to see who is the closest.

Kipp
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