Thursday, May 14, 2009

Watch the channel!




We definitely will know soon thats next for financial sector. Fibonnacci level stopped rising channel, now its time to test lower line of it. My clue is if we broke below that line, we will see more correction, perhaps firstly to 550-560 area. It's amazing how perfectly lines are symmetric if you draw them on extreme points, so something has to happen.

And one more thing: yesterday RIFIN stopped just on 20 EMA. So broking this level would be big improvement for deeper correction.


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