Is the Trend Our Friend?
Well of course the trend is our friend, but what I'm asking here really amounts to this. Is the trend support, or is support support? Our support line is about 8.36, but a stronger case can be made that the trend line has acted as support given the number of times we have seen the price react to it. What makes this so interesting is that we are running out of real estate very soon if we continue with the sideways action we have seen lately. Keep your eyes not only on price direction, but where it is when it moves during the next few days; and, we may have a clearer picture of where things should go than we do right now....or so I hope :)
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