Timmins & Beardmore - Northern Ontario

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Message: Re: resistance levels - Keaster
3
wmn
Jan 07, 2009 05:24AM
2
Jan 07, 2009 06:06AM

Keaster : "Does anyone know how far up the real resistance is right now?"

IMO a 4 month down trend (from early september) was broken last week.

It looks like there's major resistance at $.10 and still have to wait for the BBs to catch up. The $.10 was support in Sepember and then became resitance when it was breached in October.

The next Major resistance is around $.12. this is the 9 month downtrend line from March 08 that was tested twice, once in late may and again in early september.

WE need huge volume to pass these babies, and in the absense of news I expect it won't happen until the Venture either retraces after this runup to form a right shoulder or retests the bottom again.

Positive news could get us the volume we need though and bypass any correction (maybe)

____________________________________...

"Some people do not understand how to appreciate god work! keep it up!"

Upcoming, I appreciate the vote of confidence but would never allow myself to be placed at this level.... I am not worthy!! ;)

cheers



1
Jan 07, 2009 10:50AM
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