American Scientific Resources (ASFX)

[OBI]

Chart Update 05-19-11

As I have posted previously, a correction was coming. With the limited volume I am trying my best to gage what is happening on the lower time frame.

My initial assessment was that we may have a wave I top at 0.46, but comparing to the .ii of I correction, and viewing the weekly chart tells me we may still have not completed the 5 of I top just yet.

if that is the case, we either will move into a 3 wave correction with 0.30 today being wave (A), a slight bounce then a lower low. Or an alt count signaling that 0.30 today will be our low for next leg higher. If we break above 0.46 tomorrow or next week without breaking below 0.30, then we will know our first major wave I has been completed.

hopefully as time goes on, it will be come more clear. support at 0.25 should hold to remain bullish