Short Term Trading Member Forum

[pmiles]

Probably the 1.245 week low is today. We did not meet the 1.25 week FMA target out of the 10 week low. Given the fact that we did get back to the major resistance level near the highs of this multi-week trading range it's perhaps not very significant.

However this was the first 1.25 week low out of a 10 week low and if we can't break out of the top of the range now the chances of doing so begin to diminish.

In summary - we are near the high of the range. The FMA's above the 10 week are still all pointing upwards so on those time scales we are still in an uptrend. The 5 week and 10 week FMA's are flat so we're in a range on those time frames.