weekend charting 6 /7 sept 09, page-63

This is the IRN chart from last week, with the extra weeks data in it, to test out clarity with the new charting size.

The first view is the full chart view, where it is obvious IRN had a little breakout this week. It tested the resistance tine gathered strength, tested again and finally broke out, and is now headed for the first warning line.



The second view is my main chart pane with the 8 and 34 emas on screen, with the volume bars in the background, and the RSI(13) with it's ema(3), and the slow stoch(15) in the lower 2 panes.

Price to me looks like it is going to pay a visit to the blue ML on the big fork. The RSI and Stoch have been overbought for 6 weeks and are not showning signs of weakness. Price is well above the ema(8) in the main pane, and volume is not weakening.

My best guess is that price will consolidate under the yellow 1st warning line, then break out to visit the blue ML above 92c.



Paul;

If you could let me know if this fits a 13" screen, it would be appreciated.

I thought I would throw in NUF updated from last week as well. I have chucked in a new descending black fork. It looks like the test of the cyan ML is failing, but the top of the gap is acting as support. The stoch and rsi are low, but could go lower. I expect a test of the black resistance tine this week. If the test does not break it, then NUF will decline inside the black frame for a while, and maybe get down to test the cyan support tine again