Thursday, April 12, 2007

Creating a Higher Low on the TREND Chart

Finally, we had a good trading session last night, with a good TREND and enough volatility to boot. I had just mentioned on Tuesday, the need for PRICE (TREND Chart Basis) to head back down in PRIME, to challenge last PRIME Support at 1418.25 to create a Higher Low (it does not mean that PRICE must head all the way back down there. As long as PRICE is in PRIME, and it starts to fail heading down, that's where the Higher Low is established), so that PRICE can head back up to give us a Higher High.

Trading Chart
We made Lower Lows, Lower Highs & Lower Lows...But going into the close, we are consolidating, with the next move in mind.

Heading down to give us a Higher Low, which was printed at 1444.50 - Whether this low is confirmed as the Higher Low remains to be seen, as we need a PRIME Confirmation. We will probably know tonight (Singapore Time).

Swing Chart
Still in a Bullish Uptrend and no indication that PRICE is heading down to create a Higher yet.

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