she filled the gap... next week crack 40???, page-31

I've been waiting for $37.60 to dip the toe in.... But despite the temptation held back.

There are aspects of the chart which call for caution.

We made a year's high, yet the indicators refused to acknowledge it as momentous. (look at the MACD, TRIX-triple exponential moving average--, RSI and even the stochastic. They believe August 4 was THE high.

I thought price had to bottom at the blue 25 day moving average, or the yellow 50 day, which has been supportive for most of the year.

Today it hit and straddled both. However, the two are perilously close to crossing. Bearish.

Also, though the last two days were looking good for a longer-term bounce, the stochastich rarely turns up from that level.

But now it IS at a level where uptrends resume.

Yet, I'm prepared to wait a day or so to see what happens.

If price falls through this level, then $36.60 -$36.00 are the next stops I'd say.