Support and Resistance Trading Forum

Re: Feeder's Done? *PIC*
By:Alan C.
Date: 7/24/2009, 5:55 am
In Response To: Re: Feeder's Done? *PIC* (charleydan)

Interesting that Thursday's low (102300) was exactly the same as the high of 5/15, and appears to be support. Support also would seem to be at 101900, the high of 5/11 and 5/20. In fact, price activity in that time span provides several reinforcements of support. RSI (14-day exponential) is looking very bearish to me; however, given all the aforementioned support, that could change before price drops to 10150, which I suspect is why Erich is watching for a drop to that price level before he would consider going short.

Responses To This Message

THXs for the chart/explaination *NM*
charleydan -- 7/24/2009, 7:58 am
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