Wednesday, August 17, 2011

Opening Bell

Carbon is still trading in the 12.15-12.45 sideway range. We are looking for two potential long entry signals:
- breakout from this channel breaking the 12.45 level (or the retest of this after a strong breakout) with a S/L at 12.25
- or retesting and bouncing back from the 12.15 support level with a S/L at 12.05

In both cases the P/T is around 13.10 based on the longer timeframe resistance level.

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