CXO - Chart Thread, page-3517

Two positive days in a row and we see CXO at the 1st real serious(in the short-term timeframe)resistance level ... ~ $ 1.025. I'm liking the 'wave structure' out of the 82c Low(looks Impulsive) however, any near-term followthru needs to see value above $1.085 before I'm prepared to call that low a more significant one. Failure between $1.025/1.085 could mean a retest of 82c or even lower ... 77.5c. We also have today's GAP up to contend with; hopefully it acts as good support if we do see weakness soon.

Next day or two(OK, I'll give it another day... so EOFY) should really clarify. Having said that, if I had to form an opinion for the next couple of weeks I will say that the 82c low won't be taken out.

Here's a 30min Chart since the early APRIL HIGH ... nice FIB extension symmetry coming within 1.5c of our 82c Low and swing points within the Down Channel.