resist the dark side, page-55

Not to steal Ange's thunder. Here are some more fib levels for three of the ranges up for those interested. Ange posted fib retrace levels which start at 0% at the top of the range and fall back to 100% retracement at the bottom of the range. I've posted fib extension levels which start at 0% at the bottom of the range and extend up to 100% at the top of the range and beyond.

Black is the range up on monday. Blue is the range up from the Iron Ore Project update with Vale. Red is the range up from the trading halt before the drill results. Some traders will look for price to pull back to the 50% level of each range to act as support and enter after price has bounced off this level and they'll sell if it falls below and look for the next entry. This isn't the only signal they use.

I've drawn in the third red bar to simulate tommorrows price bar only, it is the average down range of the last two days trading and would take us down to bounce off the blue 50% fib (or we may stop at the blue 61.8% fib where we are now which would be better). If erichmj's bullish rising three method play's out we can expect another long green up from there similar to mondays. This doesn't have to happen as the big boys will do as they please, but I would like it to.......hope this givves you a bit better idea.



This is not a recommendation to buy or sell.

Rhodes