share price, page-90

hi all.

weekly chart. confirmed downtrend. well there is not a lot to like about the weekly, macd trending down and still fanning, RSI at 41 and still heading south, sp starting to walk the lower bollinger band.
now lets try and get ahead of the market, looks as if the 42.71 support fib will be broken today, next fib 41.85 (this fib everyone knows about, the .382%)
my line in the sand is the 41.01, 40.95 area, there is a number of support fibs in this area, fib traders would be closing shorts just above this area. the bearish divergence in the weekly macd is still in play.

daily chart. confirmed downtrend. i feel we have now got follow through from the daily sell signal. it now looks as if there was no stop hunting from yesterdays trading. my macd lines have now crossed to the down side. the sp is once again walking the lower bollinger band.
once again we need to get away from the lagging indictors and try to get ahead of the market with leading indictors, fibs, i have placed all my possible fib supports in the weekly.

the players on the short side are well in control, volume at the end of this week will be interesting.
just my 2 c worth.

have a good one.

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