chart, page-2

Hi Fellini,

Could you explain your concerns with the monthly chart?

I can see a couple of concerns. But in general I wouldn't be worried about it at this stage.

On the weekly chart, a large pennant or symmetrical triangle has formed. Until that breaks one way or the other, I can't see a reason for being bullish or bearish in the intermediate term.

On a long term chart, OXR has been moving in a slightly uptrending channel. This channel has been in place for about two years. The lows and highs of this channel at the moment are just under 3.00 and just over 4.00.

It seems more likely to head for 4.00 than break lower.

But a break of the lower line of the trend channel would then suggest much lower prices.

Looking forward to hearing from you. Its always a good idea to write down what you are thinking. Its a great way to clarify your thoughts.

Cheers
Red