The power of trendlines.

January 28th, 2009 by Trader Tony Leave a reply »

Decided to paly a little bit with trendlines. So, this is what happened:

sick-trend-lines

What seems to be chaotic price action intraday, looks quite nice on a longer timeframes. Some support/resistnce levels to keep in mind for now:

870 – support 1

860 – support 2

880 – resistance 1

890 – resistance 2

Actually pullback to 860 would have been very healthy for the market to continue its move higher.

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