Demand Zone By Year End 2014
If price remains in the gently down slopping channel we could find strong demand at the intersection with the top of the base line channel by year end at about $420. A break below this level could bring us to the bottom of the base line channel in the low $200 and another strong demand zone. I placed a fib structure on the RSI ( borrowed from Constance Brown, Technical Analysis for the Trading Professional) and for now RSI remains bearish and has failed to breach the .382 fib level and currently sitting on the .236 fib level.
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