|
|
Enron Mail |
Price action during Wednesday, August 22 day trading session saw prices trade < 2.990 and settle < 3.040 on prompt continuation. This implies that the likelihood of lower prices has increased, and that the long term trend has shifted again from bottoming to down.
Here's the market structure: 3.160 Prices need to trade < 3.160 to weaken the case for a decline to 2.370. 2.811 Current prompt continuation price. 2.615 Minimum downside target. 2.370 .852 retracement of 1.020 to 10.100. 2.010 Most bearish scenario. Call if you have any questions. LP
|