Thursday, May 6, 2010

Possible Crack

Pardon the chart. Lots of lines as I try to figure out what's going on. The one thing for sure is a lower low and what looks to be a potential breakdown of the wedge and support. See the black candle. It is not very impulsive. It is worth keeping an eye on though. That lower blue dashed line is the market support line for P2. On some chart systems this has been breached already, but apparently not on TOS the way I have it drawn. Sorry that I can not be more clear as price is in a convoluted area that has numerous possibilities with numerous potential support and resistance lines in the vicinity.  Keep an eye out for a possible move south from here, but it was not impulsive so it may not be anything.