Monday, November 12, 2007

GEO - gap down black candle to cross below 38.2% Fibonacci retracement

GEO = 2.08 (-9.6%)

GEO formed a gap down long black candle to cross below the 38.2% Fibonacci retracement level.

GEO looking for support and it might come from the 65MA

GEO seemed to be control by the bears as it accelerated its rate of decline.

Resistance: 2.26-2.3
Support: 65MA

Good luck to all GEO traders!
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