Friday 7 January 2011

Consolidation or Distribution

Price moved in a narrow range yesterday. Is this consolidation for a move higher or distribution of gain made over past few days?
Looking at the week move, lets see what happen when market open.

It's really nice seeing how price react to those zones. The retracement after breaking down 2270 was deep and slow. If you look at time based chart, its a good 45 mins of struggle before price drop down sharply to 2252.