Thursday, March 25, 2010

C: Target reached

Today C reached the objective of 4.34 (EMA 200). I have this tentative elliot structure in the intraday chart...



In the daily chart, this is the structure. Notice the divergences in the RSI. This divergence  at least tell us that we should not go long here... but the EMA's tell that we should not go short too. The 200 daily EMA is the next resistance (4.34) . In addition huge volume today.





3 days frequency chart: notice the resistance in the 23.6 % fibonacci retracement (4.40)

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