Technical Analysis: Oracle Looking bearish on the weekly chart:
-Completed a head and shoulders topping formation
-Broken below 52-week long term average
-One year plus rising trend line was taken
-Breakout accompanied with pick up in volume levels
I am looking for an initial target at major broken resistance at 36.40, should turn to support now. Lets see how things unfold.
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
-Completed a head and shoulders topping formation
-Broken below 52-week long term average
-One year plus rising trend line was taken
-Breakout accompanied with pick up in volume levels
I am looking for an initial target at major broken resistance at 36.40, should turn to support now. Lets see how things unfold.
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician