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

PAYPAL

Tuesday 8 April 2014

8 Apr 2014

We managed to tag the 75 daily ma then bounced off it.  Yesterday we noted that this is a possibility of a support due to both 75ma and the lower BB line converging.  We also noted that a rally might occur from here and would need for the ST to turn bullish again for us to consider the uptrend to new highs as an option, coupled with a bullish EW pattern of course.  In any case, we are still in a bearish scenario and nothing has changed on our indicators.

MT: DOWN
ST: DOWN
PA: DOWN


The chart below is still open as a bullish option...

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