Note how the action for 7/14/11 came down to the 50% Fib at 1309, filled the gap at 1307 and bounced off the 20 MA at 1307, and closed the day at 1309. This would be a logical postiion from which to bounce from. A further move down would target the 62% Fib retracement and gap at 1298 adn that would be targeted for a bounce. The gap at 1360 still requires filling. Projection is bounce here to head back up, or continue to 1298 for a bounce from there. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.
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