Wednesday, November 14, 2007

GEO - hammer?



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GEO = 2 (-3.8%)

GEO again formed another black candle with lower high and lower low.

GEO seems to be forming a hammer. It will be confirmed if GEO forms higher lows and higher highs in the coming trading days.

GEO tested the 50% Fibonacci retracement. I hope GEO bounces from this level and test the resistance of the downtrend.

Support: 2.04
Resistance: 2.26-2.3

Good luck to all GEO traders!
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