Thursday, December 16, 2010 5:00:01 PM
purple lines are daily resistance, blue is daily support. the teal is a monthly support and that chart is showing up coming as well so i fully believe that support will be regained and then some.
maybe some minor resistance at 1.10 with the daily, 13ma, and psar as it looms down but that will flip, just check the indicators. rise, macd, sto all breaking up with those blue lines as support. have not broken the vaulted 20 level yet but this is ground floor buying, be in before the rush right?
also think that 1.20 resistance will fall and this crosses the 50da as it will regain monthly. there is another resistance at 1.80 which is stronger, i think it tries for at that on this run, should at least push over 1.40.
calling almost a double, crazy? check the ppo, adx, and trix (sorry for the cut off). pinch is forming. ppo starting to turn up, trix bottomed, the -di and +di ready to turn as well and the adx is about to cross the -di. once it does this moves fast and blows through 1.20/1.30 onto 1.40 then we see where momo takes it.
My charts are my own. Any numbers or timing are based on my interpretations of what I consider to be the most likely price movement. My interpretations can be can be wrong, it is always best to do your own charting.
Anything else I post is purely opinion
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