Friday, January 15, 2010 1:00:51 PM
This is my thought.
In one year chart yes .0008 is very good support and breaking that is not good. But - in one year chart if it closes below .0008 and exactly at .0007 then I won't mind it. Because at .0007 it will still be above EMA(200) or may be exactly on the EMA(200) line. So in one year chart even though .0008 support is broken - it still hold EMA(200) but has to be at .0007 below that is not good as it will break EMA(200) at .0006
Also if you look at three year chart
For week ending 12/25/09 - volume was 85.91M and close was .0013
For week ending 1/1/10 - volume was 50.64M and close was .0011
For week ending 1/8/10 - volume was 27.26M and close was .0008
For week ending 1/15/10 - volume till now is 19.96M which is very low as in comparision to week ending 1/8/10 volume which was 27.26M.
So as volume for this week is just 19.96 which is far below last week volume of 26.26M - then let this week close in RED which is below .0008 but close at .0007 which will still hold EMA(200).
You do not want to close in Green for the week and Volume way below previous week.
I hope I was much clear this time. Let's see what they do. I mean the one who control PPS.
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