Cofound.it
I don't want to be a buyer now, but I do like this setup. After the last 12:00 on the chart it has had a nice standing rally and what I want to see is a move to the 18 avg band or any kind of correction or long sideways action and then when it breaks whatever key high it establishes which is 8800 now I want to go long.
I could also take a chance and place a buy order at the 8100 area which was its last resistance and I probably will do such for a small play and then add more when it breaks that point because if it does such than I know it should have a great chance of sparking a nice rally that will be worth the gains I can get on this play. If there is no rally coming most likely it will top and then just go down and that is why a buy order is a risky play at 8000.
Derek
