Friday, May 11, 2007

My sell side scenario proved right - the channel consolidation indeed resulted in continuation of the larger reversal - - at the present chart we see a breakdown from the reversal channel at 161.74

>> MACD has reversed and its position signals strength in the momentum

>> Directional Movement (9) adds confidence to the sell scenario with ADX at 37.5 and rising giving additional confirmation that the downfall momentum is rising..

targets remain the 23.6% fibo - 160.59 / 38.2& fibo - 158.70

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