now buy?, page-4

pickledfish-

DYE has a shallow angle UpTrend starting at 53 in October,touching 55 in late November being broken for ONE day last week and now it's Back on d'Mainline again.
70cents is a Long Term Support Line and currently pretty much also on that trend line.
90 cents is the next significant Resistance Line.

Now if you look at TA patterns?well you should see that a Triangle is formed by this Trendline and 90cents Resistance.

Symetrical Triangle I'm told it's called.

Anyhow IF/when this 90cents is Broken and DYE trades above 90?Well that Pattern targets that DYE should hit approx $1.25.

So one can use that Trendline to monitor Trading in DYE.One could also use 70cents as a Point to Hold Support and thus perhaps activate a Stop Loss IF either 70cents or the Trend Line is Broken.I suggest such a Stop be activated only after 2/3days Trading under such a point or Alternatively DYE makes a Lower Low than last weeks 63ish.etc etc blah on Money Management.

Further charting interest lies in the Island Cluster Pattern formed Early January over 90cents.This CONFIRMS 90cents as Resistance.
Also you will find that the low last week closed a long standing Gap of .5[half] a cent.One of the "controversies" of Charting is how/why Gaps get closed.

Anyhow,I think charting of DYE will be more beneficial than tracking some Correlation in price with the Price Of Oil[POO].

cheers