Tuesday, April 22, 2008 1:35:47 PM
BDGW chart - Hi Screamingeagle. Sorry about not getting to your post sooner. The way I interpret the BDGW chart is that profit taking is/will continue for a bit. This is forming the cup right now. There is considerable price resistance and the 100 dma is there as well. I would not be surprised to see it retrace down to either the 50 or 100 moving average and then rebound (i.e the handle in the cup and handle formation). The weekly chart looks good here and the next resistance level is at the 1.60 range.
Good luck and happy trading.
daily chart
weekly chart
Good luck and happy trading.
daily chart
weekly chart
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