Posted by manson805 on 11th of Aug 2009 at 03:18 pm
Drys has two major obstacles to clear before resuming any type
of uptrend. Wait...make that three major obstacles: 200(MA)
7.64+ downtrend line + 20(MA)
6.38= a tough road ahead. A
drop below the 5.00 level on a closing basis sure would be bearish.
Looks like a big move coming and if you are long I'd advise caution
until the obstacles become support. Just my observations.
drys
Posted by jbarry on 11th of Aug 2009 at 02:26 pm
any thoughts on dryships?
200(MA) and 20(MA)
Posted by manson805 on 11th of Aug 2009 at 03:18 pm
Drys has two major obstacles to clear before resuming any type of uptrend. Wait...make that three major obstacles: 200(MA) 7.64+ downtrend line + 20(MA) 6.38= a tough road ahead. A drop below the 5.00 level on a closing basis sure would be bearish. Looks like a big move coming and if you are long I'd advise caution until the obstacles become support. Just my observations.