kungfuguo

SI 7/21/2013 (W)

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Here is a weekly chart for SI. I plotted on the fib grid to look at the near and long term supports and resistances. What I want to point out here is that we finished the week at the key resistance of $109, which corresponds to retracing of around 61.8%. Last time this was rejected, which was followed by a mini-down trend, until it found the support around $95. Next week will be the key. If unable to break the resistance, we will find ourselves re-testing the near term support at $100, then at $95. Of note. MACD is showing bullish divergence, hopefully, a breakout will follow. Good luck.
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