My orientation remains long sided based on various tried and true basic weekly technical indicators. I have and will flip short on the shorter time periods and only enter long positions cautiously given these uncertain times. My target remains a slight breach of the January highs. Using time and price fibs I'm leaning towards a mid May peak around 940-950 range. This is an area where the 200 day moving average, RSI target signal is completed and cycles will begin pressuring the price action.
Sunday, April 26, 2009
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