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Re: JohnCM post# 38077

Tuesday, 03/19/2013 3:32:19 PM

Tuesday, March 19, 2013 3:32:19 PM

Post# of 92256
It would be nice if we closed above it, but not the end of the world if we didn't. In fact, we can see in the chart you provided that we went below the daily MA50 3 times recently -- but each time we launched higher in a short period of time.

The 20 week MA has actually provided stronger support/resistance in the last year or so -- and it just so happens to be at about .187, where we've been riding all day. What a coincidence..

Anyhow, I'm still looking for .18, or maybe a little lower intraday, but a close around .18 looks pretty likely to me this week. I'd expect it to hold whether we get any news or not, but it quite apparent that a lot of folks are growing very impatient here.