PUBLISHED BY INSTITUTIONAL ADVISORS
April 5th, 2009
Technical observations of RossClark@shaw.ca
Crude Oil - Preparing for an Advance to the High $50ís
Crude oil has now corrected from overbought readings above $54 back to the mid $40ís. Our short term oscillators are now oversold and into a slingshot position that can produce a low that will be capable of driving prices back up. The 150 day moving average (currently $60.60) should offer important targeted resistance as we move into the seasonal highs of late-April to mid-May.
BOB HOYE, INSTITUTIONAL ADVISORS
April 5th, 2009
CHARTWORKS WEBSITE:: www.institutionaladvisors.com
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