Wednesday, July 11, 2007

Last Night's Weak Session Created Leg 1 of Bull Break On The TREND Chart

PRICE was unable to sustain the initial pull back from the weak opening and as such, the continuous drop in PRICE on the ES created Leg 1 of Bull Break, on the TREND Chart. Last PRIME Support was at 1528.75 & the ES clearly had no qualms about sweeping past that level. Going into the close, PRICE is still heading down.
Last PRIME Resistance on the TRADING Chart is now at 1522.75. If PRICE is able to clear this (& with a Minor or PRIME PPF of Support in tow), then a possible end of the down move, or end of Leg 1 of Bull Break could take place.

No comments: