Tuesday, May 25, 2010

Targets for retracement

These are the possible targets (they constantly change since they are averages) I have for the coming retracement wave. Given the fact that we are very oversold, these targets are within reach. Especially the 200 MA and the 34 EMA. I personally will give it 7 white candle days and see where we will be at, we had 7 red candle days.

1103 - 200 MA
1106 - 34 EMA
1132 - 13 EMA
1168 - 50 MA - This would be a sweet spot to short if we can make it there in a violent rally.

Trend is starting to roll over.

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