Tuesday, June 19, 2007

PRICE Consolidates

PRICE movements last night proved me wrong as the high of 1554.00 remains intact. It looked very much a forgone conclusion when during the Globex session, there was a PRIME Higher High at 1553.00 on the Trading Chart. The obvious thing to do was to wait for a PRIME Higher Low to go LONG. However, that didn't happen. But instead, a PRIME Lower Low took place, thus causing downward pressure of PRICEs, with the subsequent PRIME PPF of Resistance at 1549.50 at 01:15am, Singapore Time.
The up TREND (on the TREND Chart) is still very much intact, as long as the last PRIME Support at 1533.75 is not violated.

No comments: