Monday, September 15, 2008

peaked[2] oil[1]

well golly gee. so much for that $100 support. some lateral chart support has been hit today. maybe that will help. but a .618 retracement on the December WTI contract comes to 91.93, right about to where the major trendline extends. maybe from here, or down there, we'll get a little suckers rally. although it would be funny to see this sink to 75 without even a gratuitous bounce.

for a little trip down memory lane, read my post 'More Oil' from the middle of May. or this one from late July.