Posted On: 12/13/2012 9:23:37 PM
Post# of 14350
Here is the chart I posted at that other place for my friends there. I will add to the commentary that i have been buying during the recent uptrend. After the news is released I will buy according to whichever scenario plays out.
Chart. An ascending wedge has developed. (blue lines) A close above .005 and a successful retest would mark an end of the resistance established in October. The next significant resistance would be at the red line at .0123!
If the price closes below the wedge at .003 then an expectation would be for the formation of a reverse head and shoulders pattern with the left shoulder at the October 16 area, the head at the mid November lows and the right shoulder to form near .003.
The worst case bearish scenario is for a double bottom to form near November lows.
The best case scenario is that a cup and handle formation is in the works and a confirmed breakout above .005 would signal a new bull phase.
Chart. An ascending wedge has developed. (blue lines) A close above .005 and a successful retest would mark an end of the resistance established in October. The next significant resistance would be at the red line at .0123!
If the price closes below the wedge at .003 then an expectation would be for the formation of a reverse head and shoulders pattern with the left shoulder at the October 16 area, the head at the mid November lows and the right shoulder to form near .003.
The worst case bearish scenario is for a double bottom to form near November lows.
The best case scenario is that a cup and handle formation is in the works and a confirmed breakout above .005 would signal a new bull phase.
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