If I understand correctly (please forgive me, Gary, if I've misinterpreted your comments on the last post) this weekly chart is what Gary's referring to with his possibility of a rise to the 168.5/169p area and then a retrace down to 115p all within June.If that works out (perfectly possible IMHO) then we'd have an ending diagonal triangle (wedge) which would allow for the wave 1/4 crossover.As you may know, my original thoughts were along these lines though without the wedge. In fact, this pattern would be more bullish than what I'd been thinking as ending diagonal triangles can produce quite violent moves (not always).This scenario would actually give me much greater confidence going forward as there would be a complete wave pattern down from 450p. As things currently stand, we don't have that which is why I'm finding it hard to have confidence in this rise from 126p (and...

The RSI breakdown followed through as expected yesterday with quite a bearish day back down to the short term uptrend support. I bought a few at this level yesterday as I posted in the comments on the last chart update but I'm not confident and will look to bail out on any further weakness.The 22.5p to 27.5p move in May seems very similar to that which is currently happening in XEL so it will be interesting to see if Xcite follows in the same way.One note of possible bullishness here: the RSI has made a new low whilst price has not yet. This could be what is known as a momentum discrepancy reversal point which is kind of the opposite of a bearish divergence and could be a pattern of continuance of the uptrend from 22.5p. There's plenty of short term support between 22.5p and 24p but if that gets...

Again POG tested the breakout point of 135p yesterday and held onto it. This level has to hold if it's going to continue upwards towards the target 154p area so I've moved my stops to jest below the low of the previous day's candle (31st May) of 134.1p. Original link...

I've got to say this this was a bit of a surprise move yesterday and seemed to come on very little volume though I was only able to watch on my phone as I was out all day.The volatility and relatively low volumes makes this a but tricky and not so reliable, but note how that 61.8% Fib held almost exactly (that's where it went into auction surprise, surprise) and then subsequently got sold off.I'm afraid I still can't help the feeling that the move from 88.75p is corrective (ie against the trend), especially given it's current and apparent 3 wave form, preceeded by what appeared to be 5 waves down [5 wave move are always in the direction of the current main trend but can also be the last move of that trend].Downtrend resistance from the 250p high is at 116.5p today so that's the initial upside figure to...

Vodafone has followed through nicely here and is close to my initial target at the 38.2% Fib and gap at 185p.I was thinking of going long at that point but there's a chance that this could go much lower based on the whole move up from Oct 2008 lows at 96p appearing to be complete so I think I'll give that a miss now and review it as we go. Original link...