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Subject: Markets - Crude Oil $139.37 dn-0.41 p&f chart
Wednesday, Jul 16, 2008

Markets - Crude Oil $139.37 dn-0.41 p&f chart.
Note: The p&f chart is drawn up to the close yesterday's Tu.15th and it had reversed down by 4 sqrs.from $146 dn.to $138. Today, Crude is at $133.62 dn-$5.12 and dn.another 3 sqrs. that will appear late this evening on the chart. The chart has yet to turn bearish and it will take some time to be such, so the chart remains bullish until it indicates so on this chart. NOT yet.

Last report dated July 4th then at $145.29 up+1.72 was heading for new record highs that hit the top on chart at $146. In that report my "next" target was given as $151 so missed by just $6. The bar will e-m next in bullish form, but today's drop is not shown yet. On the "numbers", note the close was at $139.37, a major resistance on the way up, so to maintain the bull run, must get back over that price and hold. Will report later and watching 4-U.

Charlton Capital Ltd. Mr.618 . Good luck!


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