“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC

PAYPAL

Thursday 27 June 2013

27 Jun 2013

Prices pushed through the 75ma with ease but got caught up on the 61.8% resistance.  We should expect the resistance to be broken by tomorrow in order for us to reach the GAP to fill it. Just above it is a trend line and a 200 60min ma that are in sync and should act as a resistance.  The look we are looking for would be a reversal candle tomorrow and a divergence with the 60min Stoch.  We could also have an accelerated move down so we would have to stay cautious of the possibility of a fall.

Mid-Term: DOWN
Short-Term: UP


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