Ok…here goes…..big resistance at $2.20 - 2nd attempt to break through today…big volume..although 200,000 odd was off market sale. Trend channel has emerged after breakout at $1.20.
Compared to only two previous trend channels …i.e Aug 05…Jan 06…not quite as steep….but close.
Twiggs Money Flow much better with the current trend channel and if it breaks $2.20…might run all the way to take out previous high of $3.00…Mar 06. This may co-incide nicely with the 6 monthly report around late August..
News will drive the SP as well from now till August. Time of last trend channels were 5 months and 3 months. We are 2 months into this trend channel from the breakout. General market vibe is certainly helping as well.
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