Tuesday, March 26, 2013

Fibonacci Ticks 233-6765

Price fell under the MA's on the lower term Tick charts almost off the open. We ran into the MA's on the longer term Tick charts by 10am, but the momentum was too strong and sliced right through to new lows. After a defineable wave pattern completed, price rallied up to overhead resistance from the long term Tick chart MA's, where sellers stepped back in and we went lower once more for a retest of the lows. With a failed new low, price rallied into the close near 1550.