cnooc on buying shale gas assets, page-8

dc1234, as my chart shows 16.5c is technical resistance and that may be all the reason some technical traders need to sell......but you know resistance is not always an inpenetrable wall and often price breaks through if given a good enough reason. The company has given us 22 reasons why 16.5c may be a distant memory some time this year....

But to balance the argument price may be turned down from here again, at least short term, if we see some seasonal weakness. We should not forget that the Australian market saw the year high in 2011 on April 11th and in 2010 it was April 15th...we are now at the 4th April and US markets have climbed relentlessly for some time now so there is every reason to believe that the old "go away in May" cliche might apply again this year,

But who really knows because just when you think you have worked out the pattern of the market it goes and changes all the rules.