Markets - Crude oil $92.16 dn-1.05 p&f chart dn-1 sq.
Crude has tried to get over the $100 price three times and has found that price to be a significant resistance that I had forecast. It's the sq.of 10. Three intraday highs have hit:- $98.62, $99.29, and $100.09. Pt.& fig.chart, fell one more sq. and now has hit chart support that if taken out, will confirm that the US economy is in contraction.. If only on the home front, prices that is.

Remember the US imports 60% of it's Crude Oil, one of the highest in the western economies. US builds no nuke plants while all other countries are going ahead full speed. Britain is planning more plants, China is planning 22 more, France is 80% nukes, Germany 80%, & so on. Compared to the US, it's falling back as fast it can go, others are doing fine. So with the falling Dollar and high crude the US in going into trouble and it looks like no one cares in Government, with so may restrictions on drilling. China Petroleum "SNP" is now the biggest Co.in the world. Stock Nov.3rd 2003 was $32.80, now at $133. China, so called a communist government, hove no restriction on the co's.global business. In the US, the government are always interfering with US international cos. Yet another reason why the US is giving over to China some of the best opportunities to find oil and gas.

L.T.the chart remains bullish, but presently, crude is dropping for now. Target is at $90.50. Below that, p&f S.T.support is at $86.00, it will then be very oversold and expect a rally from there. Shall keep my eyes on the situ.and will report again as required. See you then.

Charlton Capital Ltd. Mr.618 here.