Crude Oil update 02/28/2011

See attached updated crude oil chart.  I am not commiting to the long side as of yet!  But do plan to do so if/once the "C" wave is registered..

From yestarday's report "As shown on the chart (thick line) the next upside price target is the $99.75 a barrel level .."

--Tony

Es Futures Secondary Top?

The Es futures are setting up nicely as proposed in last evenings report! We could bump under the S&P's line a little but eventually this should pose stiff resistance for a secondary lower high. Presently targetting the 1327.25 level for top. Like anything, this a probability and not a certainty!

Silver Geometry

Round and Round we go!

Euro Geometric Chart

The euro looks to be consolidating before another leg down! :)

The Final Approach

Looks like the S&P is making its final approach before turning down. We could be there but if not look for a short retracement and one more move into the 1324 level over the next trading day then all bets are off and we could move down with conviction. :)