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The buyers did not manage to pass the important resistance level 188.4, where the main line of the downfalling trend is placed, thus the shares were driven down.
At the moment there is a declining movement to the support level of 184 observed.
As the general tendency remains decreasing and the chart of the computer sector is still in the formation “Bullish correction” at the rate of 30%, today the continuation of the descending trend is expected.
In case of a pre-time shares’ upward rebound and breaking through resistance level at 188.4, the buyers will overwhelm and a rising pace will last till the resistance level at 190.8.
The relative strength chart is placed at 50% and is directed horizontally.
Performed by Sergey Litvinenko, Analytical expert
InstaForex Companies Group © 2007-2012
NATURAL GAS (#NG) Buy Long Above 3.040 December/21/ 2011 (Weekly Strategy)
NATURAL GAS
Natural gas futures is trading at $ 3,107 per million British thermal units during the American session, trading at a very small range, we have a very strong support. 3.040( weekly support), we believe the pair may reach this level and then take upward force.
If you notice on the chart, natural gas has left a gap in its opening last week of December 12. is likely to have to close that gap before continuing its downward trend. Our goal for this exercise we will place short-term resistance in the second round of 3,383 weekly.
On the other hand, the Momentum indicator and range are showing oversold, signaling a possible rebound.
Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2011
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