barnsty nice chart, what seals it as a long to me is that point...

barnsty nice chart, what seals it as a long to me is that point on the yellow downtrend channel you highlight as 'must hold here' is also the 50% fibonacci retacement from the high in december. in my (limited) experience when a strong trendline and a 50% fib intersect a VERY STRONG reaction is almost garaunteed. particularily now that every man and his dog watches TA signals. look at ANZ a few weeeks ago as a prime example. went long QBE on friday and will add over the next week until my account says i can add no more.
i do have a small concern over the hailstones etc, however i think there are larger forces at work here (US federal reserve juicing the markets being the prime one....)
good luck folks!