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I think it will retest support at around 0.055 or

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Post# of 96892
Posted On: 06/25/2014 10:23:55 PM
Posted By: Willy 5150
I think it will retest support at around 0.055 or 0.056 if it breaks that support then it will retest between 0.043 and 0.044. it looks like a false breakout because it didn't go further the 200ma on the daily chart or the 40ma on the weekly chart and broke a little below the 50ma on the daily chart, volume confirm that a lot of people took profits and short when they saw it wasn't going further the 200ma(breakout of this is bullish), the novice traders were shaken out because fear is an emotion stronger than greed(this are the ones that got in late because they don't know how to take risk and buy based on sup and res) they pay attetion at what others say. I see a big bearish cloud with a lot of volume that closed near the low and that's a huge sell off in single day(people that's shorting want this to go lower to get to their target price or nice profits). The only good thing is that it closed above the half of the Fridays candlestick but the bad thing is that all my indicators and the rest of the signals are bearish. Hope this can help you to be on your toes tomorrow


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