weekend charting 22/01/10, page-41

Hello Friends,

LGL certainly could be showing a bit of a head and shoulders pattern but personally i shave my head and dont care to much for shampoo...

However lets take a look at LGL chart and this is what i see... apart from lookin almost idendical to NCM haha it looks like it is in a bit of a free fall at the moment, The repeating ranges are suggesting $2.80 and guess what..right where the old support was?!?!

The trend line which i have drawn from november sits around this level also, The weekly stochastics still look bad as does the daily im certainly expecting more downside to this puppy. under the 195 ema is also not very nice for LGL and all the moving averages looking gross also.

If it can hold the $2.80 level might be alright if it cant next support will be at $2.40? might get down there if the gold can keep going down? would be great if gold was supporting on $1000 and LGL was at thsi level ($2.40) i dont think you could really go wrong with a long hehehe

Enjoy chart