Re: $1.60 is now intraday support with oversell at $1.57

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Re: $1.60 is now intraday support with oversell at $1.57

in response to

Re: $1.60 is now intraday support with oversell at $1.57

Ruthless25

posted on Apr 21, 2011 01:29PM

Ruthless, an oversell is a place where people kind of panic sell because they think its going to go down more. So we have support at $1.60 and if it fails that, many start to sell thinking its going to go down more, it then turns up and the candle on your chart show a tail that touches $1.57 and the body of the candle is at the $1.60 mark.