Forum Archive Index - June 2002

["Brian & Fiona Brakenridge" <pohuenui.island@xtra.co.nz>]

There is a real temptation to jump in with the rest of the herd and grab some while they are still relatively "cheap". Without the chart this tempation would be even greater because you could easily forget how much they have dropped and how jittery the market has been to even the slightest negative news.

 

It is still in a long-term downtrend.

 

Phaedrus, is it likely that the reasonable support around $4.77 may become resistence again as it did 27/5?

 

It has broken through short-term downtrend and is now sitting right on the medium-term downtrend line.

 

I'm wanting to see it break through this line then confirm the up-trend with a couple more higher lows or a break through the $4.77 support/resistence level.

 

I'm also very interested to see if it does drop back a little whether or not it finds support at the same point the medium-term downtrend crosses the marginal support line at about $4.11 on around 27/6. Phaedrus will mark my effort down severely for even suggesting this because it comes very close to making a prediction and this is most definitely a no-no. It's just one of those spooky little occurrences I've seen happen on some of the other charts and is fun to watch if nothing else.

 

Trader100, Andrew C, any thoughts?

 

Cheers

Brian

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