RTB:
That chart supports everything that mide and lowtrade have been posting reguarding the new channel formation as it bounces between the EMA20 and 50. The breakout above the EMA20 would lead to a new channel formation. I think what some of us are looking for is that after the correction into this new channel, which is still being formed, is the following question:
How long will it last? What news or other market influences will cause a breakout above into a new channel?
Personally I am looking into the Russel 2K buying that will possibly lead into the longest channel we will see. According to the dates that audiophule has posted there is expected to be a time period from about the 10th of this month through the 27th in which we could see bouncing in the current channel being formed. Or who knows, possibly breakout into a higher channel?
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