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Strategies & Market Trends : Humble1 and Swing Trading Friends -- Ignore unavailable to you. Want to Upgrade?


To: chartseer who wrote (8821)8/28/2012 3:02:10 PM
From: zman69  Read Replies (1) | Respond to of 40057
 
Depends on time frame. There is also plenty of prior resistance below that has acted as support. In the very short term we are in a high level consolidation mode. Bulls will call it a pause to refresh, bears will call it a distribution phase. Ms. Market will settle the score. IMHO the bulls are correct... TWT.



To: chartseer who wrote (8821)8/28/2012 3:07:38 PM
From: Joseph Silent  Read Replies (2) | Respond to of 40057
 
What was previously support for a while .................................................

is now providing some headwind to price.

There is no "our" in support and resistance. These are simply lines representing expected values
(in the sense of averages).

I don't know about bullish and bearish.

The market should be headed up if all goes according to plan.