One World Ventures Inc. (OWVI)

[pennyzen]

A few things I noticed while studying the chart...

1)RSI is no longer overbought. We are currently sitting at 54 and I thoroughly expect a bounce here.

2) MACD is still positive, above the 0 threshold

3) It looks as though we are in a cup formation that started at around 12-23. A break above that .004 at the close would have thrown this baby into the stratosphere, which is why I was SO bullish and even bought more at .0044.

Where do we go from here???

1) My hope is that create a handle attachment to this cup here and stay within this new channel for a few days or maybe even longer to provide confirmation of support in this new channel. That .004 resistance is looking like a REAL problem area to break. We are going to need a lot of fire power to take that out for a close but we have a good group here and it can be done. Should we close above this .004 resistance, I'm looking for all hell to break loose to the upside. That .0046/7 resistance and .0058 resistance is not that strong and can be EASILY broken. The .004 resistance will act as support once we plow through it.

2) Our .0029 - .004 channel does not hold and we fall to previous channel of .002/.0029. The .002 would be a worse case scenario.

If any other chartests would like to throw in their .02, I am the first to say that I am not all knowing. Reading charts is a fun little hobby of mine much like playing a musical instrument. I am not the best but certainly not the worst!!!

Let's have a phenomenal day today!!!
PZ