Friday, March 16, 2012

Support broken

Today we had a confirmation on breaking the levels indicated last night and we had two signals to enter short - although the second one must be watched very carefully as it is close to the low of 7.64 which may be (short term) supportive (and perhsps should be an intra-day Profit Take level).















If we look at the prices since the beginning of this year and take 6.35 as min and 9.60 as max we will see that 7.60ish is also a Fibonacci level which can add a mid term support (but we would be more optimistic if it was 8.36 at the beginning of March that could have provided the support).


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