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Re: fink post# 63206

Monday, 10/17/2011 12:51:16 AM

Monday, October 17, 2011 12:51:16 AM

Post# of 98509
Well, believe it or not a colleague of mine pointed out that the daily price charts shows a large bearish channel, which, I had noticed earlier but, had not realized that the price has never left the channel and there is a descending triangle on the daily chart which forecasts a target price of approximately 0.0005. So, I'm fairly certain that the price will get to 0.0005 and possibly 0.0004 or even lower. The monthly chart shows a definite multiyear downtrend and has been oversold for a very long time except for the RSI which is finally nearly oversold. So, the price should go lower but it is inevitable that there will be a bottom to this market and the price will rise again.