SNSN schreef op 28 oktober 2015 11:26:
For today: PP=3.372
Resistance: R1=3.44
Support: S1=3.243; S2=3.177
We see just (standard) tech (pattern) trading (see yesterday and older posts). Given the (main) "reversed pattern" structure, closing around ~2.25 may be expected with reasonable prob... Though, it's not actually a border for intraday trading that, in principle, may have a wider range...
To see diff patterns' structures, take a look at
2-months chart with daily candles:
1) the "fist pattern" (which is just left part of longer classic "reversed pattern") was formed since Sept 9 with the lower (horizontal) edge around ~3.15 (this pattern determined the most probable "timing" fast rising before Oct 27 - see old posts - actual signal for "fast rising" was given on Oct 22 when the upper pattern edge was broken upwards and many "st-shorts" had to be closed - just one extra drive for steep rising);
2) the right part of longer "reversed pattern" is just forming since Oct 15
3) the "small reversed pattern" (just st-component of longer "reversed pattern") was completed within Oct 7-23 (for those interested - this component may be better seen just on 1-month chart with ~10 min candles)
4) the two-days "bearish engulfing" formation (see yesterday post) - is just a bearish signal (given yesterday, completed within Oct 26-27) for possible turning point in the right side of the longer "reversed pattern" - see (2) above
Of course, there are a bit (much) more stuff involved....