Cookie Policy

Chartsview Blog

The Latest Blogs from Chartsview

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Archives
    Archives Contains a list of blog posts that were created previously.
  • Login

GKP daily 19/06/13

by in ChartsView Blog:
  • Font size: Larger Smaller
  • Hits: 1259
  • 0 Comments
  • Subscribe to this entry
  • Print
1259
Picture
Not much to add from earlier discussion except to point out the big drop in volume and narrowing range of daily price movement. These both suggest a move is coming (the Bollinger Bands are also fairly narrow which suggests the same).

While 147/8p has been a subborn support, the main target areas (should it drop) are all around the same general support area. There's the short term uptrend formed by the 126.3p low and the higher low which followed, the original breakout point of 137.5p, the 61.8% Fib at 141p and the 78.6% Fib at 134.75p. That's 4 support areas all pretty close together. Should they fail, the uptrend support which caused the bounce from 126p is now at 127.25p as next support.

On the upside, the main number to break now is that (re-drawn) down channel resistance at 160p then the 166p recent high.
0
Trackback URL for this blog entry.

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Monday, 19 November 2018