8.17.2012

A pullback if any may be bought for the 1420 and 1425 targets

Price had successfully pierced out the symmetrical triangle top/pennant and then the rising channel. That is very bullish and I expect that price will manage to challenge next targets at 1420.00 and 1425.00.
However, it also seems to me that the market was in an overbought conditions and a pullback may be seen before the above mentioned targets.
I am prepared to buy a pullback and suggest 1410.00 as the first support. The second support would be in the area 1402.50-1406.20.


No comments: