ascending triangle?, page-5

Hi ghostey,

If you refer back to message #13416 where I posted a chart of MOG on the 6th Nov 2010, you can see that the price bars of MOG have consistently pulled back after uptrending from the lows and reaching or crossing over the light blue line slightly. In other words, the light blue line is the resistance line that you are looking for. You can read that price level of resistance from off the chart. For your convenience, I show that chart again:


Statistically, that light blue line will likely pose the first level of resistance when prices rebound, but it does not mean that the price of MOG cannot move further up.

Hope this helps.

dascore