Sorry for the late post for those that like chart chat, there...

Sorry for the late post for those that like chart chat, there were many pleasurable distractions that a day like today allows.

Well I have my Gris-Gris bag around my neck and my talking stick in my hand and I’ve done my rain dance, it’s time to look at the pretty picture and see what we see when the bones are scattered on the ground.

Down, down, down to clean out .955 thankfully there was very little at .95 but they kept at it and took what was available (obviously with their great availability to market data they have said yep let’s go there), and then an afternoon bluff which would have sucked in more for them to take perhaps on Monday perhaps they even got enough today (maybe they want more, but I am saying that could well be over). I have put the intra day in so you can see how nice their work was as they dropped the price tested a bit lower filled up and then let it rise and then dropped it again, the question is did they do that to pick off the high they created late in the day again (well they got them if they did and that’s one reason I think the lows could be history) funny how they finished it after the close on .97 made it look good didn’t it, that after market parcel is such a… well if I could just curse on here I would.

Here is the intra day chart






But what a lovely bar to finish the week on the finish was a tad higher on the bar than I like, in fact if that bar had been flipped upside down and moved up .01 I would have been woohoooing around the office today and buying a round at the pub. Seriously that was a pretty good finish to the week although with the bar finishing where it did in relation to yesterdays and with the little lower motion than requested they have left downwards open, just not as open.

My call would be that it may not go up on Monday (there is a good chance it will though) and if it doesn’t and it does another sideways motion then Tuesday is a very safe bet for a small to medium up bar with a bit of reasonable volume I think they will be a bit on the smaller side of the medium range to start with a bit more volume than we have now (lets not go above thirty though).

The fact that we had less volume was a great sign with today’s bar as the less volume was attributed to the down side of the bar which means less supply down low especially at the bottom which is why I feel confident that was a strong sign that they will have trouble taking it lower.

Anyone that looks at my charts will notice that I have a red line at the bottom, yes that is my expected low (hey you can’t always pick it to the cent I get it wrong too check back through my charts) well I haven’t moved it down for a reason, but I have moved down the green line which is my outside expectation of the next days upswing possibility (I hope it doesn’t go above that because that would be a bad sign which will become more apparent as we rise up and I explain then, it's no use talking it up when it's going down) and the blue sky line, self explanatory really



Now just because it goes up doesn’t mean it won’t come down, watch the charts for it to be so hot it’s evaporating on the upside that’s a sure sign it’s about to boil over and quench the flame.

By the way this is not investment advice it is just opinion do your own research etc etc

oh and remember ctrl and + will make the image larger on your screen :)