|Does this AD vs Price chart look interesting?|
|And there you have it. Simple as pie|
Until that Blue fork and the 200 are broken we still stand a fare chance of revisiting the 1409 area. That would fill the forks with a nice symmetrical balance, but I'm not so sure the market has that kind of power right now, so it's a wait and see game.
Yesterday I said "The 20 - 50 DMA area will be key if the 1343 support fails". We bottomed three ticks off the 50 DMA today. The 50 is the key price now.
I have had a big fat magenta line on my charts at 1330 for weeks. So where did we reverse today? 1330.50. So once again I say be cautious. This is support/resistance.