Sunday, April 4, 2010

Resistance : Baffling to technicians



So this is the important short to medium term chart- I like most technicians noted the 1178/1180 area as potential maximum move off the March 2009 lows but we have not gotten a full rejection. The next level up on the charts is 1230 the 67% Fib retracement and at that point i would expect us to be at a final topping stage but who knows. Technicians has been waiting on a pullback for months but my ultimate top was 1178/1180 so I will watch what happens here-

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