- WE'RE JUST RANDOM SPECKS OF DUST IN A TORNADO TO THE MARKETS .......
- CHARTISTS MUST PUT ALL BIAS ASIDE AND LET THE CHARTS DO THE TALKING OR WE'LL SEE ONLY WHAT WE WANT TO SEE
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Tuesday, 3 May 2011

X - Good Support Level

X has pulled back over 25% since the February highs, but it's now in a decent support area with a promising looking falling wedge that indicates back to the highs on a break up. There's positive divergence on the 60min RSI and the immediate target within the wedge is in the 51 area:
Longer term support on this one year chart is at just over 44. Any lower than that would be a strong signal to exit and consider going short.

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