Wednesday, April 25, 2007

Consolidation on the TREND Chart

PRICE movements during yesterday's Globex session threw me off...The wild swings caused some confusion and only a Minor PPF at 9pm (S'pore Time) at 1491.25, threw some light as to where PRICE was truly heading, and that was down - and that not immediately, as there was some minor consolidation that ensued, and finally, PRICE subsequently stair-stepped down.
PRICE managed to find a Minor Support bottom at 12:00am (S'pore Time) at 1481.25. With that, PRICE managed to Breach last PRIME Resistance and confimed the bottom with a PRIME PPF of Support at 1484.50 at 02:22am (S'pore Time). Going into the close, we are experiencing some Minor consolidation. Will have to see what tonight's trading or the Globex session holds...PRICE has not failed going up & it is still heading back up to challenge last PRIME Resistance at 1494.75, on the TREND Chart.

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