The following comments were made by Clive Maund on 9/3/2009:"The...

The following comments were made by Clive Maund on 9/3/2009:
"The great news is that it is not just copper - the world's most important commodity, oil, is following hard on copper's heels, as it appears to be on the point of breaking out in a similar manner. As we can see on the 1-year chart for Light Crude, it is just starting to emerge from a basing pattern that is remarkably similar to that of copper. The sideways action from the late December low has resulted in it breaking out from last year's extraordinarily severe downtrend. This sideways action has taken the form of a converging Symmetrical Triangle, from which the price has already broken out about 2 weeks ago, and the only reason that it hasn't taken off higher already is that it is being held in check pending the resolution of the banking and financial crisis, which as we will shortly see is now in the acute terminal phase demanding resolution, and which is currently inflicting heavy damage on the stockmarket, and in addition, of course, many market participants simply don't realize that OIL HAS ALREADY BROKEN OUT upside. From a trader's standpoint it couldn't be better as oil has already broken out technically, but has not started to advance yet."
Hopefully good news for all PPP & NZO shareholders. Might even help corporate activity happen if players think oil is going up.
Regards
Buffett