I'm not worried. It did break down yesterday, which strengthens
the bearish case significantly. Plus there's quite a bit of
resistance and moving averages above (and very little below). So,
even if it manages to close above the lower support, it's got a
gauntlet of resistances to contend with above before it can begin a
meaningful uptrend.
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PGN --
Posted by fixdgear on 9th of Dec 2010 at 11:23 am
Posted by codewelder on 9th of Dec 2010 at 11:44 am
I'm not worried. It did
Posted by user32 on 9th of Dec 2010 at 11:34 am
I'm not worried. It did break down yesterday, which strengthens the bearish case significantly. Plus there's quite a bit of resistance and moving averages above (and very little below). So, even if it manages to close above the lower support, it's got a gauntlet of resistances to contend with above before it can begin a meaningful uptrend.