Short term down, long term up

Well its hard to be bullish once again, even though i want to. Ah well what can you do? Heres the latest one month chart with my same down trend shown, hard to argue against it still looking valid. We’ve spiked down to test the bottom of that range, recovered towards the middle where we are now.

Image

I drew horizontal-ish resistance on my chart the other day, but didn’t seem to materialise. Hard to say what will happen next but I’d be guessing we’ll be in this channel for a while yet. Price could recover up to about 140 ish or fall to 100, thats the range currently, and its dropping.

Heres a long term picture

20130430 all data log chart

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s