Charting The Flightpath, page-50

Hi all,
Think we are wondering what Qantas was trying to do last 2 weeks - me too was 'patiently' waiting for the break up.

1. Seem to be we are consolidating nicely above the $3.20 key support line ; volume was resonably good for buying and less for those selling day. Candle for the last 3 days seem to be indecisive with small body and upper/lower tail.

2. Seem to be forming the handle of the cup for those of us that believe it is a cup and handle formation.

3. Importantly, it 'cannot' break below the $3.20 Key support; else we should see a bigger retracement coming.

4. It will be definately bullish if it start to break up the 'red zone' on the chart @ $3.34 level. Better still, above the $3.50 resistance mark.

5. If we remain in the yellow zone, we will still need to be patient to wait for a break up/down ..........

I am definately waiting for the $4.00. Cheers