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.
200(MA) and 20(MA)
drys
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.