big deal on the way?, page-13

I am no TA guru, but . . .

. . . 10.5c was the intra-day bottom on 23/9/11 (and approx. 8-year low) following Cottee's resignation, and we were only at those levels for a matter of days during which there was quite extreme volatility. So at 12c today you would think we are pretty much right on that double-bottom support area, and with what seems to be steady and persistent M&G selling pressure without the kind of large buying back up the queues that happened last Sept, the picture is looking decidely unhealthy.

One would think that if the 10-11c level holds through current selling wave there may be an excellent short-term opportunity on reversal, but if that level is breached may well be blood in the streets.