Saturday, November 03, 2007

BOH Analysis for 11.03.2007


Monthly chart shows consolidation/congestion with high made at $55.94 in October. Uptrend that has been in place for a while has finally broken.

Weekly chart shows price below all key moving averages with selling all last week.

Daily chart shows sellers came out in force on Thursday, gapping down the price at the open. Friday saw renewed selling. Look for continued weakness and price to test the $46 low and possibly lower.

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