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Friday, July 10, 2009

The Waiting

A day like this is quite boring. I'm a little bit disappointed with the bullish reversal candles set up -- they just don't have the courage to climb up further.

It's a sloppy day -- already in weekend mood? Since today is the last trading day of the week, it reminds me to just browse a little bit of the weekly chart, what I do is to pull out the weekly chart, and have to flip through the charts with the live price to gauge its probable candle formation.

The CityDev weekly chart caught my attention, it looks very interesting to me now. As shows below:

If you look at the last candle, it shows a long- legged doji for this week-- not confirmed though. So the closing price today is important, as it will determine whether it's a doji--at support which means the 8.4 support is held, or a black candle with high volume--whcih means the possible break of a major support. It can be either way, let see where it goes, you will know the answer in just 60 minutes.

Wish everyone nice weekend!

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