The up trend WEEKLY lr chart from 28/11/2008 to the sp 44c. high on 04/05/2012, generated an upper channel range of 21c. (44c. - 23c. = 21c.).
The horizontal extrapolation of the up trend lr line (23c.) is a FORMATIVE support/resistance level......as well as the HARBINGER of bull & bear traps.
Post 04/05/2012, key up side TP's/resistance tests are FORWARD looking (extrapolated), and will be (generally) MULTIPLES of that 21c. range.
The FORMATIVE SUPPORT level @ 23c. is yet to be (back) tested .
Cheers...and on the watchlist.
[ATTACH] The up trend WEEKLY lr chart from 28/11/2008 to the sp...
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