Well traders been a great week to play the range , the range play may be about to end. A chart of this weeks action ,
It started the week off with a nice head & shoulder pattern , which could not break thru the weekly and montly pivot area , it then retested the head area , sold off to the pivot areas again , bought back up to the head area , sold off again and now here we are back to the head area , one good poke above the head area and some weaker shorts ought to be exiting trades in a hurry . Now take a gander at a 2 or a four hour chart and you will see the same senario only on a much longer time period , almost 4 weeks now and price is really trying to get a poke above the head on the 2 or 4 hour chart. It has been a nice battle down here but atm it appears the buyers are starting to gain some traction. Magix your charts point the way bro , cheers all
It started the week off with a nice head & shoulder pattern , which could not break thru the weekly and montly pivot area , it then retested the head area , sold off to the pivot areas again , bought back up to the head area , sold off again and now here we are back to the head area , one good poke above the head area and some weaker shorts ought to be exiting trades in a hurry . Now take a gander at a 2 or a four hour chart and you will see the same senario only on a much longer time period , almost 4 weeks now and price is really trying to get a poke above the head on the 2 or 4 hour chart. It has been a nice battle down here but atm it appears the buyers are starting to gain some traction. Magix your charts point the way bro , cheers all