In association with

Market Update 4th March 2011

Oil bulls watching the Fibonaccis

The Technical Trader’s view:
Crude Oil Light Sweet Continuous
155
150
145 MONTHLY CHART
140
135
130
125
120
The big picture is
115
110
interesting showing the
61.8% 105
100
bounce off the Prior High
95
50.0% 90 supports that has exactly
85
80 met the Fibonacci
75
70 resistance at the 61.8%
65
60 retracement level at
55
Support long term from Prior Highs 50
45
$103.89.
40
35
30
25
Now look closer.
20
15
10
5
0

5000000

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

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This information memorandum has been prepared solely for informational purposes for customers of Seven Days Ahead and is based on publicly available information from sources
believed to be reliable. It is not an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation is made as to the completeness or
accuracy of any statements or forecasts contained herein and no responsibility or liability is accepted for losses arising from transactions undertaken or investments purchased, sold or
held on its recommendation. Consequently, any persons acting on information contained herein do so entirely at their own risk. Although the opinions contained herein were
considered valid at the time of release, financial markets are subject to rapid and unexpected movements. Seven Days Ahead, its associated companies, their directors, employees,
other customers or connected persons may from time to time undertake transactions or deal in investments mentioned in this information memorandum or have a material interest,
relationship or arrangement in relation to them.
 In association with
Crude Oil Light Sweet Continuous
155
High 147.27
150

145
WEEKLY CHART
140 The move of last week finally
135

130
broke the grip of the Fibonacci
125
50% retracement resistance
120

115 and propelled the market to

110

105
the next significant level in
61.8%
100
one move.
High 87.15 95

50.0% 90

85

80
Note in passing, the historic
75 congestion of price action
70

65
(closes) at the $103.89 level
Low 67.15
60
from 2008.
55

50

45
Low 33.20 40

35

30

25

S O N D 2008 M A M J J A S O N D 2009 M A M J J A S O N D 2010 M A M J J A S O N D 2011 M A M

Crude Oil Light Sweet Apr 11

105.0
104.5
104.0
103.5
DAILY CHART
61.8% Fibonacci retracement resistance of the bear move 103.41 High 103.0
July 2008 - Jan 2009 102.5
102.0
101.5
101.0 The short-term chart of the
100.5
High 93.98 from May 2010 100.0
99.5 April contract suggests there
99.0
98.5
98.0
is massive support beneath
97.5
97.0
96.5
the market at the successive
94.89 96.0

94.13
94.35 50.0% 95.5
95.0
highs around $94.
94.5
94.0
93.5
61.8%
93.0
92.5 Also Fibonacci support just
92.0
91.5
91.0
above that level.
90.5
90.0
89.5
89.0
88.5
88.0
The bulls look well-
87.83
87.5
87.0 underpinned.
86.5
Bull trendline support from August 2010 86.0
And a break up through the
600000
500000
400000
300000
Prior High Pivot that is
200000

7 14 21 28 4 11 19 25 1 8 15 22 1 7 14 21
100000
coincident with the major
December 2011 February March
Fibonacci resistance will lead
to further fast bull moves.

Mark Sturdy
John Lewis
Seven Days Ahead
SEVEN DAYS AHEAD Professional trading guides and recommendations for the World's markets

Authorised and Regulated by the FSA 124 REGENTS PARK ROADLONDON NW18XL TEL +44 (0) 7849 933573
E-MAIL MSTURDY@SEVENDAYSAHEAD.COM WWW.SEVENDAYSAHEAD.COM
This information memorandum has been prepared solely for informational purposes for customers of Seven Days Ahead and is based on publicly available information from sources
believed to be reliable. It is not an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation is made as to the completeness or
accuracy of any statements or forecasts contained herein and no responsibility or liability is accepted for losses arising from transactions undertaken or investments purchased, sold or
held on its recommendation. Consequently, any persons acting on information contained herein do so entirely at their own risk. Although the opinions contained herein were
considered valid at the time of release, financial markets are subject to rapid and unexpected movements. Seven Days Ahead, its associated companies, their directors, employees,
other customers or connected persons may from time to time undertake transactions or deal in investments mentioned in this information memorandum or have a material interest,
relationship or arrangement in relation to them.