Friday, July 20, 2007

Fiber's positioning for an upside breakout ?


From the chart, Fiber attempted to break through the resistance of 1.3830 but failed. However the support levels seem to be increasing from 1.3750 to 1.3790. In my POV, Fiber is forming a support level near 1.3800, which is an important psychological support. This could be a sign of an imminent upside breakout (remember the triangles pattern?). It's a good idea to enter a position.

Currently, I have a long position @ 1.3800. As usual, I could be wrong.

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