Thursday, September 8, 2011


Not much for me to say at this point but I will point out that this is the second straight week support has been found at the 18 period average highs and the forth week in or around that average with four straight weeks of the same resistance levels between $43 and $44 dollars. Its consolidating the large $42 level pretty big and a massive hold above $38.11 previous support level for it has not been below that mark since August 11 and has been above that level every day since July 13 which means the last day where the highest point was below $38.11 was July 12. That is strong and now we have completed over ten straight days of staying above $40.00 and the last day where the highest point of the day was below $40.00 was August 15th. This seems very poised to breakout and the daily chart on the video below shows an ascending triangle from the $42.00 level being resistance and the uptrend line shown.

No comments:

Post a Comment