Sunday, June 08, 2008

SLF Analysis for 06.08.2008


Monthly chart shows constant selling by the bears, since the high was made in October 2007. Short term support is right off a small LIS where "old resistance becomes new support". However, I expect this support to be broken, as the bears take the price down further. No buy signal/pattern evident on this timeframe.

Weekly chart shows increasing selling pressure this past week. Look for a break of the current $43.30 low.

Daily chart shows price to be stuck in a consolidation/trading range since the January 2008 low was made. I expect that the price will break down from the consolidation range, and make lower lows.

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