Thursday, May 27, 2010 6:14:54 AM
Re: $XEU - 10-Year, WEEKLY Chart Favors RALLY:
Technically speaking:
1 - Price reached a significant 50% Fib level = $121.10
2 - RSI reached a taut oversold position
3 - Secondary indicators are lining up in a "pre-Rally Pattern"
OVERALL - Above technical patterns are begging for a relief rally to allow prior bearish weeks to wind down. Look for 200-weekly EMA to act as an extreme HIGH overhead resitance, IMHO:
(Chart source: http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2140281 )
- Dalcindo
Technically speaking:
1 - Price reached a significant 50% Fib level = $121.10
2 - RSI reached a taut oversold position
3 - Secondary indicators are lining up in a "pre-Rally Pattern"
OVERALL - Above technical patterns are begging for a relief rally to allow prior bearish weeks to wind down. Look for 200-weekly EMA to act as an extreme HIGH overhead resitance, IMHO:
(Chart source: http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2140281 )
- Dalcindo
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