CRUDE OIL UPDATE
LOOKING TO THE EXIT
A Few Weeks In Time And A Little More Momentum
from ChartWorks:: published by
Institutional Advisors
Bob Hoye
April 14th, 2006
Crude Oil is stepping its way nicely higher from the seasonal low. Historically, crude stages three rallies out of early July, December and February. When the strength in the first two calendar quarters takes the price above a rising 50-week moving average it tends to culminate in a 10 to 15 week move. The RSI(14) also produces readings in the 70’s. The current rally is eight weeks old and generating RSI(14) readings of 63, leaving both more time and price appreciation available.
April 14th, 2006
Bob Hoye
EMAIL:: bobhoye@institutionaladvisors.com
CHARTWORKS WEBSITE:: www.institutionaladvisors.com
