Monday, March 27, 2006
Datacraft as requested by Urgent
Downtrend since 8th March 2006 when the hammer candlestick broke down thru the bold blue uptrend line. Since that day price has never closed above the 20 days close simple moving average. RSI still in downtrend as shown by the green line on the RSI chart. Stochastics stuck in oversold region because it does not work well in strong trends. Immediate resistance is $1.12. Next resistance is the 20 days close simple amoving average at $1.13. Breakout above $1.14 will see price move up to retest the blue sloping uptrend line. Immediate support is at $1.08. Next support is $1.05. Lets see which direcion the doji will taken tomorrow.
# posted by Cherie : 2:10 AM
