Looks like it's testing support nicely at 40 on the 60 minute.
The real question is does it hold? Notice it appears to
be in a wave 5 on the 60 with divergence in the oscillator, that
jives. But, could it have a bit more downside before it's
done, yep. Maybe, Maybe not. I think if the market
breaks it does too. You know what they say about free
advice.
matt, about erx
Posted by qwich34 on 19th of Aug 2011 at 12:00 pm
Not Matt but maybe this helps you
Posted by johnc on 19th of Aug 2011 at 12:12 pm
Looks like it's testing support nicely at 40 on the 60 minute. The real question is does it hold? Notice it appears to be in a wave 5 on the 60 with divergence in the oscillator, that jives. But, could it have a bit more downside before it's done, yep. Maybe, Maybe not. I think if the market breaks it does too. You know what they say about free advice.
thank johnc
Posted by qwich34 on 19th of Aug 2011 at 12:28 pm
ERX via XLE 15 min
Posted by bkout3 on 19th of Aug 2011 at 12:24 pm
currently looks more bearish than bullish to me but JMHO