chartist view on rmi, page-2

Hi Goldilocks,
As a holder (DOH) I have just had a quick look at the chart which you are calling bearish.
I see it as early bullish.
RMI made low on 22/1/08. Usually when a low is followed by higher lows it will break to the upside particularly after the fourth one. Admittedly the last 3 lows have all been the same but appear to have found support at 0.031. Also last time it tested this level it took four days to get down to it. It has gone back up to the same high in one. Over the last month it has been making higher highs be it on a micro scale.

No doubt there are many time cycles but it is running pretty reliably on 250 days +/- a couple and the low on 1/4/08 clocked up 250 days from the top on 26/7/07 which was about 250 days from the low in November 2006.

These to me are subtle signs prior to an upward move. (I guess that means it is going down).

If I were looking at taking a long position now or adding I would be watching for confirmation of a change in trend.

My posts are my observations and should not be taken as advice. Do your own research and take responsibility for the decisions you make.
Cheers