Thursday, December 9, 2010

Bottom in or one more low

Price declined as predicted. It is possible that this decline is a finished wave C, 200MA support + wave C is almost 61.8% the size of wave A in price. In time wave C is much smaller, a little reason to be cautious, that's why i don't exclude another wave down to make this a double three correction (abcxabc). If wave B is finished now ( or after one more low ) wave C should start and take price above 1.3441.

1 comment:

  1. 200 Hourly MA support, sorry forgot to mention it was the hourly moving average.

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