DislikedThe last time that the price in GJ was this stable was a small patch around July 08 where it hovered around the 211 area... before shooting off to 215.8 (400-500 pips) and then collapsing. If the same holds, malcolms 149.50 might just be caught before the next great unwind.Ignored
July 15, '08 had a much tighter gathering of EMA (5, 20, 35, 60, 90, 120), all
within 10 pips.
Nov '08 has yet to see a convergence of the price action with the 90 and 120.
If this should happen, like in July, then the spring will have become
so tightly wound that you then may see an explosive price movement.
Now compare these with Sept 29th and Oct 21st where all 6 EMA's were within
15 - 30 pips. The result was not just 400 - 500 pips movement but rather 3,000 pips.
I'll see if I can post these offline charts.
Dr. D.