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CRUDE OIL

SEASONAL LOW IN PLACE

from ChartWorks:: published by Institutional Advisors

Bob Hoye
Technical observations of RossClark@shaw.ca
December 7th, 2005

The seasonal low in crude oil is now in place. As seen in the precious metals a month earlier, the stocks have lead the commodity off the bottom. The seasonal rally can be anticipated to make its initial rally into January. Traders can look forward to a sale into a 50% retracement ($63.30) coupled with a daily RSI(14) above 65 commencing in the last week of December.

Following a successfully tested low, the second phase of the move would normally last into March-May.

Bob Hoye
December 7th, 2005

EMAIL:: bobhoye@institutionaladvisors.com
CHARTWORKS WEBSITE:: www.institutionaladvisors.com

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