Thursday, March 12, 2015

Nice Bounce

We rallied pretty strong today and closed one penny above predefined resistance at $207.09.  On the open we broke through minor resistance at $205.92 and the 50 day moving average at $205.97.  We got a sell signal two bars into the trading session but it only resulted  in testing the broken resistance level before heading up to the next level of resistance for the remainder of the day.   On a bias note I believe we might continue to head higher potentially to $208.80 before we see another significant pullback.

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