what charts say, page-4

Depends on how you look at it. The first breakout after a major consolidadtion is vulnerable to pressure. Medium term mid May 07 hit .445 - and that will resist. Profit takers and the "old" guard that wanted out are now exiting. That is good. We need to consolidate before the next move.

Around the May 07 period, we consolidated around the .35 - .40 mark before we went south. This consolidation is the natural pullback (as well as fibbo) for where we are now.

If you look at the charts, there is always a pullback with a big run - and this is bigger than most.

Assuming we have good news to come - and I do, and that it will come at reasonably frequent intervals, things look ok. The "breakout" traders have probably exited and as the run was hard, many would be waiting for a pullback before entering. That is now close I think with maybe some small downside to the Sp of 3 - 5 cents.

So, if we are at the start of the new uptrend, and I assume we are, then the next major resistance will be somewhere between 60 - 68 cents. That would be right on form for Fibbo extension and previous resistance.