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<x-rich>ciao traders!
do take a look at this chart and let me know what do you think about it.
IMO, until the falling trendline and the moving average will hold, it will be difficult for the 57 level to be exceeded. I project the momentum to test its moving average before the short-term uptrend to resume (in fact, we cannot ignore the important bullish divergence marked on the indicator with a red trendline).
So expect a correction near 55. But, a move over 57 would carry Mark to 59-60, and, after that, we could deal with a intermediate to longer term uptrend (the kind of rectangle like that developed in Spring is typical of the final phases of a downtrend).
Trade well!
</x-rich>
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<x-rich>
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<bold>Gaetano Arnaldo Evangelista</bold> - BARI (Italy)
E-mail: ageitaly@xxxxxx
URL: http://www.geocities.com/wallstreet/8492
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