Tuesday, February 24, 2009

Bull - Bear Battleground - 10 Day Bear Potato is Challenged
2D, 10m. - Feb. 24 - Todays trend was up after 10 days of decline in market.  Seen above in Gold Spots are two double tops and bottoms signaling reversals.
5 D, 30 m. - Feb. 24 - Bullish trend for a change.  Confirmation required on 60m. chart.
10D, 60m. - Feb.24. - The Bear is challenged.  The candle closes over the 10 Day MA but the 10/30 have not yet crossed over.
6M, Daily - Feb. 24 - Nov. lows are challenged and hold at this point.  Fibonacci retracements are shown based on recent high/lows.  Tomorrow will be important to see if there can be bullish follow through to the upside.
Leonardo of Pisa "Fibonacci" - 12th. Century Mathematician
2D, 10m. - Feb. 23 - Fibonacci retracements.  Resistance and Support identified for last two days and retracement lines are drawn from top to bottom.  50% (76.39) considered "critical."  61.8% (76.85) is the "trend breaker."  38.2% (75.93) "first line of defense - erosion here is considered a trend threat."