Aug 11, 2010

Short term update

Look at this chart, it tells everything. The resistance level has hold, followed by hard sell off.
I love technical analysis:) All you have to do is to be patient.

Aug 8, 2010

Weekly review / Седмичен преглед

Hello traders!!!
this week action has not changed a lot. I will repeat my self from the last week - DJ is following the plan:)
The prices are moving higher in the rising wedge on lower volume. We are nearing the end of this move, but its difficult to say if the wedge will be broken this week or next week. DJ has room for another rise of 100-150 points. We can even overshoot the upper boundary of the wedge and the cluster of resistance, but in the end the next major move will be DOWN...

Aug 1, 2010

Weekly review / Седмичен преглед

Hello traders!!!
Volatile week, but in the end nothing has changed. If you look at two weeks back you will see the same charts which I have posted bellow.
Dow Jones is following the plan:) Prices hit the lower trend line, made a higher low(not shown hear) with the Histogram rising on the hourly chart.
So short term I am expecting higher prices and rally to the resistance zone.