Thursday, March 10, 2011 4:31:01 PM
today we crossed that monthly resistance sooner than i expected. coming back down may happen, like the last cross, but hope to hold over 3 if not 4 this time. there is only 1 last fib fan and the resistance channel from the last attempt to run now. the fan line is around 18 and the last channel line is about 7. we enter a new time zone near the beginning of april, too far to pinpoint yet an exact day, but if we keep weekly psar below us going in could be an up time period.
we are above upper bb so it may pull back tomorrow, then again by tomorrow the upper bb should be over 5, not like we flew today. so more upward movement may be possible as the hourly shows room. the key is to break 5 on this move and establish that as support for consolidation going into the next cycle.
time will tell. momentum buying would be nice.
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 wrong, it is always best to do your own charting.
Anything else I post is purely opinion
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