the deal wrote:hisah wrote:the deal wrote:@hisah if what we just experienced was wave 3 then wave 4 should stop at 3278...wave 5 should bring us below 3000..so I will be drawing my rectanle trend lines at 3278 and 3078..if we break below 3078 then its wave 5...and the bears are intact..above 3278 i will be bullish..
The breakout fakeout zone is between 3278 & 3315. Above this level, bear momentum will start waning. Failure below 3278 should initiate wave 5 targeting 2860. Hopefully Dec holds above 3000. Getting into the corective ABC waves below 3000 after wave 5 will have creamed Wanjikus badly in the ensuing up & down volatility. Definitely you are always on top as far as the charts are concerned...interesting Kenol keeps coming and bouncing at 9 bob..if such support level caves in then 8 bob will print but a break out above 10 will open 12 bob and maybe 15....definitely the 3728-3315 is the breakout fakeout zone.....
also note that volumes are low on up days compared to down days.... When that trend changes, well you know what to do...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!