Wednesday, August 4, 2010

NG

 click to enlarge
Using the 6.11 to 3.82 spot mo. points for the Fib. retraces. Note the .618 and .50,  denoting a series of abc's that define a structure possibly ending either at 5.22 or 5.00. In any case another structure down from here is very likely, in 3 or 5 waves, targeting at least 3.30 as a .76 retrace of 2.40 to 6.11.
Obviously the neckline cuts around 4.40 to 4.45.
Note the MACD starting to roll over.





No comments:

Post a Comment