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Re: None

Tuesday, 12/23/2014 12:03:28 PM

Tuesday, December 23, 2014 12:03:28 PM

Post# of 4721
CMG Breaks Downtrend Line

Still technically consolodating as the daily and weekly squeeze haven't yet fired, CMG has broken a downtrend line on the daily and weekly period. After a retracement into the 61.8 off the daily, price moved north slamming into the 127.2% extension off a 30 min period move. Along the way it bumped into overhead resistance at a cluster of two fib levels and a symmetry fireline between 656.50 & 657.83. We hit this cluster twice and retraced with a second luster of two fib levels and a symmetry fireline providing support. Yesterday, price action sliced through that overhead cluster, pulled back to a smaller extension/symmetry fireline which provided support, moved back up to close on top of the downtrend line.

Cheers




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