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

PAYPAL

Wednesday 15 July 2015

15 Jul 2015 - Resistance At 2115

Clearly our Gartley resistance level is having an affect on prices.  Not many consider the .786 ret. as anything significant.  This is advantageous for those who like to enter a good retracement level other than .618%.  With the intra-day charts exiting the OB level.  This would be a good "small" short entry to see if prices can confirm the downtrend tomorrow.  A cross up tomorrow on our signal would constitute in exiting the short position, while an open signal would have us retain the short and add when the signal has crossed below the mid-line.

Greece at the moment is not on stable ground even with the agreement in place as some of the groups are not so sure anymore if bailing Greece out is such a good idea. Add to that the riot now starting in Athens..

MT: DOWN
ST: UP
PA: NA


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