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Replies to #174 on Dragon's Corner

dragon52

07/11/06 11:43 AM

#177 RE: Zorro #174

support at .051-2 as stated previously....

it shows on the chart as such... but that can always change because charts reflect the market sentiment. Each day a foot print is laid... the price. What the market says about any issue is what is posted.

.052 shows a nice strong candle... and prices have bounced off of that area... so if there is more selling than buying, it could break that support down. .052 is not invincible... but it is a support point.

Again, if support is broken, it becomes resistance.... once it becomes resistance... the price has a more difficult time to penetrate the next higher level.

dragon52

07/11/06 11:51 AM

#179 RE: Zorro #174

To give you a better idea of resistance area for this...

and its not pretty... look at the red lines... and circles. those price areas will have resistance... like what is being shown today...



now... let me go make that pot of coffee... lol