WORLD TIME MAP

Thursday, February 14, 2008

JES from downtrend to trading range formation


Price has tested 38 cents support twice and confirmed bulls have set up a base camp there. Now the bulls must launch an attack to take out 43.5 cents immediate resistance followed by 20 days EMA resistance line. Securing these 2 vital technical barriers will turn them into support bases to mount further bull runs towards 53 to 48.5 cents resistance zone. Failure to clear 43.5 resistance and 20 day EMA resistance line will trigger another test on 38 cents support.

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