Technical Analysis, page-96

Not dumb at all Gus.

The way I look at it is that there is probably always something in the sp history that will have effect on the future sp.

However the degree of effect is dependant on just how many still hold 88E after the Tangiers days.

I notice volumes back in the Tangiers days were MUCH MUCH lower so one would expect any historic resistance level to be relatively low.

Imho the much bigger resistance going forward is that where people are now making soooo much from 88E that they will be paying off big ticket items like cars mortgages etc etc. and taking up property investments.

This is why we are getting a fair bit of selling at this level imho.

Its always important to be able to dovetail technicals into fundametals no matter what the chart.

Acca does it on a short time frame.

Myself ?

A somewhat riskier long time frame, in which case you must back all your resolve with as much factual stuff as well as the technicals, with a little bit of forward thinking thrown in as per my Conoco fit post.

I would be looking a damned site closer at the chart if we didn't have the excellent company guidance and keeping to timelines that Dave Wall seems to regularly achieve.


d.

A little caveat here to alay some posters fears !!!

I am not suggesting for a moment that Conoco IS the Farm-in partner. Just that we seem to fit their longer term plans nicely as regards fiscal prudence IF we get that sub $50 bbl costs guidance.