Thursday, November 11, 2010

Natty

The natty ran into resistance at the 50% retrace of the last leg down, 5.23 to 3.27 on the spot chart.
And has so far found support at the 50% retrace of the last leg up on the hourly chart.

 On the upside, if the current structure down were to reverse and overlap 4.126, it would confirm an abc down, and raise the probability of higher highs.

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