technicals hammered, page-8

The specific point that i was making was that the cheap price of nat gas was indicating that oil was overvalued. IF peak oil was a reality and production could not keep up with demand then the price would stay bullish. It has done the opposite and fallen off a cliff. IF u classify AZZ as an oil stock then u need to give it the appropriate haircut.

The technicals show a distribution top and breakdown out of that top. OBV shows pretty consistent selling for the last two months. Drawing a line over the top formation gives a projected bottom at around 35 cents. This may or may not happen but trying to catch a falling knife is very risky.