BT's Classroom

[Mike_Mac]

BT, Monthly...interesting. Great MAs....

On the daily we are currently failing the 50 after trading a bit above it. Normally a short term sell signal - so you're target at that 1290 ish area may be good to watch for.

I noticed that there is a potential magnet point down there at 1200 (where the 20 ma is getting ready to cross over the 150 MA. 1250 a possibility. But in short term, I like that 1275-90 area as a bounce area if a breach of 1301 occurs though.

Not saying either way, but you can read the monthly a couple of different ways - especially given the kinda of candles we have seen over past 2-3 months (long tails at highs it looks like...so the action around these candles may be a key area to watch.