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Re: El Chingon post# 30420

Tuesday, 01/04/2011 12:20:27 PM

Tuesday, January 04, 2011 12:20:27 PM

Post# of 119177
I think your chart is very interesting, but my take is more bullish than yours.

The 300-day MA has been coming down quite sharply -- and it has been strong resistance. Over and over we have run up to it, only to fall back down.

In mid-December, that resistance was finally broken. Broken resistance often becomes support, and indeed we have now tested back down and that support has held.

I believe the next move is up.

Wadi