Markets - Crude Oil $105.15 dn-0.32 bar chart.
As I have mentioned so many times, as the US dollar falls & have written so
many times, "it's going off the cliff face" so you knew Crude Oil just continues
to rise and now way over the resistance at $100, sq.of 10, and so the climb
is slow but sure. Remember me saying to watch for major changes on Jan.
1st. the new year. That day, hit a new high at $100.09. What a coincidence I say.
Do any of you know why crude hit a new high on New Day's Day. Bet Not!
Chart shows a triple top near the $100 mark, and a triple low at the $86 mark
that I forecast would be a major support as long as the US Dollar falls again
off the cliff face, it did.
With out a further ado, my target for crude is raised to $109.70 off math chart.
On the sq. calculation the target is at $110.25. We are going that high, slowly.
Last report was dated Feb.18th then at $95.45 and US Dollar was holding
good at 76, but then fell dn.to a new low today at 72.46 so up went Crude Oil.
Had the Dollar gone higher, Crude would have fallen dn.to $81, low target. Follow the dollar, It's that simple, and has nothing to do with that old fashion
quote, "supply and demand". Get with it, times have changed.
Charlton Capital Ltd. Mr.618 here, # 1 in timing.
|