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serious trouble

  1. Here is another punters special that, whilst not in the sort of strife of GLB is showing technical signs of another major failure looming imo.

    Using the low of $5.16 on the 14/2/01 and the absolute high of $7.58 on the 8/10/01 produces an interesting set of supports that are confirmed by subsequent price action at aforesaid $7.58 and then at the 161.8% retracement of $3.65 (just run a horizontal line through your chart at that level if you can't be bother setting up the fib overlay) You will see how this level first acted as a support and then a resistance.

    The failure of this support and the two attempts MAY made to breach it (unsuccessfully) coming back up suggest to me that MAY is headed towards the 261.8% support of $1.28.

    Clearly I do not hold MAY.

    Cheers,

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