madmacs next chart, page-13

Madmacs,

Can we make this in plain english for us.

I gather you are saying it is overbought but that does not necessarily mean it has to retrace. Am I right??

However, it has show to be in a period of consoldiation/accumulation after it's latest large 20% increase last week.

Overall, you are saying that the longer it stays up in this range the greater chance of making a higher move from here?? Is that correct.

Obviously MACD and ADX have crossed overin positive ranges also indication a buy.

Please clarify what you expect the next move to be.

I have resistance points at 1.35, 1.40 and 1.50.

Cheers

D:)