Thursday 27 December 2007

Testing Time


Price has pushed through 800 Resistance and is consolidating along the uptrend channel.
Reasonable assumption is for price to bounce off this channel.
Will still look for Long trade for today. Hope to see price touching 806
9:50 Market didn't play out like what I expected. It went below the channel line and now the support becomes resistance. Short 799.4, Stop 801.4, Target 792.6, RR 2/6.8, R3.4