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From Investing-News.Com Market News Although crude oil prices tested-- and so far have held yesterday's low -- the XLE (Energy Select SPDR) continues to plunge, with the big integrated oil companies like XOM, CVX, and COP leading the way down. The XLE continues its slide after attempting to consolidate just below the 200 DMA at 56.15. My underlying oscillators remain in very negative juxtaposition, and my next projected target window is 53.25-52.80.
Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here. This Market Commentary provided by: Tiger Shark Trading is a destination web site for savvy traders and provides daily commentary from some of the world's top professional traders. Check it out. It should not be assumed that the methods, techniques, or indicators presented on these websites will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these websites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, Tiger Shark Publishing LLC, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading. © 2004 Investing Systems Inc., All Rights Reserved. |
