SXX - Jackozy

it's a peach can it sustain for the whole day.... good area to form one, maybe a bit to early for hammertime....or is it ?

dl.dropbox.com/u/20815047/SXXdaily27_03_13.gif

apologies for the two posts: I got the chart image wrong on the first attempt. As the school teacher said "Must try harder!"

Sirius appears to love the 78.6 fib. That said 16.4p could well be the target for this retrace.

From there it could go two ways: obviously, up or down:)It will either retrace 50-61.8% of the ((b)) wave and then head down to 8.5p: being approx 78.6% of the entire move up to 37.19; or it will head north towards 40 - 42p. IMO the area to watch will be 24p ish. If it breaks the resistance at 26.2 this should head for the high ground, whereas as failure will lead to the 'patience area'

Sirius appears to love the 78.6 fib. That said 16.4p could well be the target for this retrace.

From there it could go two ways: obviously, up or down:)It will either retrace 50-61.8% of the ((b)) wave and then head down to 8.5p: being approx 78.6% of the entire move up to 37.19; or it will head north towards 40 - 42p. IMO the area to watch will be 24p ish. If it breaks the resistance at 26.2 this should head for the high ground, whereas as failure will lead to the 'patience area'

Thanks OG but I am still learning and certainly no master!

I didn't buy 19.5p after all, partly because I was travelling yesterday (am back in the UK for a week!) but also because it didn't give a convincing bounce. I'm content to wait until there's been confirmation of a low.

There's further support at 18.5p but it that goes then the main trendline is c. 13.5p.

I'm not sure this is the bottom here yet and can even see a sub 12.5p possibility of 18.5p doesn't hold.

I won't be trying to catch the bottom on this and am happy to buy at a higher price if need be as a long as there's been confirmation of a low.

Cheers.