Hi BBQ

I use the same site like Stockbull was referring to.There are a lot of technical charts on the web.For explications about candlestick charting here you have a good website.

http://www.fxwords.com/j/japanese-ca...

If you use candlesticks together with other indicators and Fibonacci wave lines you can get a good idea how the trend is going. But technical charting is not an exact tool because markets can have heavy moments due to many external factors.

Will place a CLL chart but I'm unable to do now because pfotobucket site, which I use to link chart pics., is out of service right now.

I saw there was an attempt to go higher but due to bad sentiment in the markets we closed lower.

Found this http://www.cash.be/forum/getImage?ID...

This is the Brent crude chart which is in a rising wedge. A rising wedge is a bearish pattern.

BRENT OIL: the entire rally from the April 108$ low looks like a rising wedge pattern of which four out of the
obligatory five legs are NEARLY finished. We may see 135$ over the next day or so before one more rally to
the 142/155$ area should in principle be seen. A subsequent drop below trend line support (probably around
137$ in about a week) indicates a sharp decline is going to start to the origin of the wedge at 108$.

I have said before I don't believe in an oil price above 150 this year. More and more there is evidence that trouble which started in the banking sector is spreading all over the world and financials have been hurt very bad but it's my belief that this will impact on economics later on.So will demand still go up for oil the same way it was?

If oil price could come down that would not be bad for all markets .Last rise in oil price wasn't followed by oil companies as well .Why???

Even for CLL if price comes down to around 110 level this would not be so bad at all. Latest sell of in markets is due to a confidence crisis over all.

So success with the information.