It's been a while since we had a MNS chart and so things have moved on. The 31c gap has been closed, 29c support has been broken and while it is still being backtested, the obvious 28c support is under attack. 28c will it hold or will eventually break? Will it become a higher low or will the 25.5c low be challenged? The 200 and 50 EMAs have topped and are are currently heading down again. The down channel has been holding firm, so far knocking back any attempted break, can it or will it continue to do so? I guess we will soon know as SP has moved towards the upper channel line. Interestingly the centre line, except for once has been of good support. Will there be another challenge to its strength?
Personally I'm thinking more downside is the go, however Mr. Market should supply answers to the above questions relatively soon to give some feeling of direction again!
MNS Chart, page-1332
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