wednesday thread, page-26

switchy,

my take is that the gap is irrelevant, other than to demonstrate that the support line was there for more people than me. In order to breach that support, a high energy move was required. The gap is the result.

Now, the normal rules on support/resistance are that once you breach support, you should test to confirm that it has become resistance. I expect that price will go up and test that area. The highest probability is the place where the green Lower-MLH crosses the pink Upper-MLH. If it tests at that spot, it is the bulls making a determined effort to break price up. If the test to find overhead resistance occurs somewhere else, the chances of a break up are reduced. If price does not reach a point where it can test one of those lines before retreating, it is a bad sign, and I will be shorting whatever I can find.

That is my take anyway.

Volt the account for the pitchfork rental is in your email....
(lumb)