Intraday Update - Support Hit
in ChartsView Blog:- Font size: Larger Smaller
- Hits: 3162
- 0 Comments
- Subscribe to this entry
- Bookmark
Here's a simple daily chart showing why I thought that 141p was a key level (aside from it having been instrumental in the past).
There are multiple supports here: the short term uptrend support from the 126.3p low; the support from the drop off the 159.5p high; the half-way mark of the big bull candle and the 61.8% Fib all converge at this price today.
What I'm looking for now is a close around the 145.5p mark which would give a hammer at this key level. I'd then be looking to see how that's followed up on Monday.
There's nothing particular in the RSI to note but OBV (on balance volume) has flat-lined during this drop rather than following price down which supports the observations there there has been some quite buying in the background. Should be an
Trackback URL for this blog entry.
