Saturday, November 18, 2006

PARL Analysis 11.17.2006

.50 fib level is current support.

Prior LIS (line in the sand) or "old support becomes new resistance". Watch the daily chart for price to clear this in order to go higher.

Current support is at the 89sma, presenting with a bullish engulfing candle. need to clear the LIS resistance above before going higher. IF it manages to clear the current resistance, THEN target is the .382 fib level.

No comments: