We hit the 54.60 level and since then have been playing tease. I suspect this might be the beginning o a series of 1's and 2's and if that be the case I am expecting another failure around 53.56 area which is likely to be sold to the 48.80 level. The level from 50-54.5 has had considerable amount of back and forth from December. I suspect a move out of this area is nigh at this moment I am unsure which way it is likely to break.
Comment:
Well. we did not quite get to 48 but quite the move to symm resistance at 55.09.. One up , 2 down is still the mantra. Perhaps, we try for 55.86 and above. I would not hold my hat out just as yet. I find this move a bit suspect and am willing to be proven wrong.