Some charts : web
November 20, 2009 by dragon
While everybody's eyes are on ISM, let's talk about WEB which no one else has anyway. Just the other day I showed my friend what the chart of WEB looks like and I was telling him how it would hit the trendline soon. Well, this chart is about a day or two old, and we've in fact hit this trendline.
Notice that everytime this trendline is hit, WEB appears to have diminished buyers and more sellers than usual before bouncing. The breakout from last month's ascending triangle shows a 5 peso move from 15.75-16 which points to around 21 if this trendline bounce occurs next week.
I will stake longneck's life that it will.
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