Monday, April 15, 2013

LT - Technical Update

  1. The weekly chart shows important TL support.
  2. Break down from this TL may result in continuation of downmove.
  3. Early sign of near term mood change to bullish would be a close above 5 WEMA currently @ 1380.
  1. The last leg on the weekly chart lends itself to peculiar TL construction on daily chart.
  2. There is a chance of prices taking that support, and head up.
  3. We have a couple of levels (1387, 1432) which would have to be taken out for this upmove to sustain.


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