The Art Of Technical Analysis
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Saturday, April 9, 2011
looks like 4.25-4.30 is possible short term. i would like to see price hold that level. price closed below 5 ema yesterday and looks to close below again today. this signals a pullback. we have had a hell of a ride and a healthy pullback is good. if you want to trim, do it near 5 ema. if not thats fine too. i will be adding at the 4.25 area. its important that that level holds, if not we have some moving averages to support us below that. if those dont hold, we could see trendline support at 3.50 area. thats donward sloping from the recent feb and mar lows.
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