"There is only one side of the market and it is not the bull side or the bear side, but the right side."
Tuesday, January 6, 2009
Analysis: Through out yesterday performance, the moving average lines are opened widely, indicate how strong the bullish trend yesterday.Normally, after such impact the trend might turn the opposite to make the moving average lines cross each others again (bearish start up).The smac-d indicates bearish pattern, while this trend is supported by the RSI which is almost intercept line 50.What exactly im waiting for is the confirmation from these indicators to support this bearish trend.
Pref.Count: Im expecting the price today fall 133.66 or 131.35 in expansion. If the RSI intercept line 50 successfully, while supported by the moving averages interception, we are BINGO.
Alt Count:Otherwise, we might see further uptrend with the target on wave counting @ 141.24 (fibo 261.8).
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