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[Master Che]

11/17/11 9:27EST Crude:December contract Yesterday we lost the pattern pointing down to 94/94.50 on the last hiccup (102.89) In the meanwhile we developed 2 small top patterns and already reached their down targets Now we still have yesterday’s top pattern and it’s becoming quite interesting Pointing Down Up Price Target: 103.40 (we reached 103.37) Down Price target: 100.04 Down Extension: 98.95 The compression reading on the decline from 103.37 to 100.01 is still not clear (and too early) if is a topping pattern or a continuance pattern (up new highs) 104.33 is now the key resistance level we still have one active short term pattern the up price target is 105.08 and it’s pivotal support is at 94.65 the weekly close on the crude is profoundly important regarding price (range) and direction the next 2 to 3 weeks