- Bullish structure of daily time frame is intact. Price continues to make higher lows and high's.
- Price has also move above the falling resistance line in daily time frame. Price sustaining above the monthly resistance line will extend this up move. Falling below this line may result in sharp correction.
June 11, 2013
- Daily chart shows price moving away from 50 Day SMA.
- Second chart shows price approaching 200 Day SMA. Price is also nearing Golden ratio.
- There is a chance of support confluence with 200 SMA and Golden ratio, But one should consider the strong down trend before trying any adventurous trades against the current trend..