Monday, April 22, 2013

Fibonacci Ticks 144-6765

Price opened with support from MA's at every Tick Interval. There was interaction with Woodie's Pivots Sunday night as well as early morning Monday, that gave the market a boost at the opening bell. Support from the MA's turned resistance when a sharp break to the downside occurred about an hour into trading. After falling under the Weekly and Monthly Pivots, price lost momentum to the downside and prompted a rally for the remainder of the day. With twenty minutes left to trade, the market began to roll over, and prices continued down after the closing bell.