Friday, January 25, 2008

MER - gap up!

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MER = 79 (6.8%)

MER formed a gap up white candle. Huge volume, biggest since 6 december 2007.

MER possible resistance at 79.

MER moved above 65MA and 32MA. Bullish in the short and mid term.

MER forming an island reversal?

MER hit the parabolic SAR on 24 january 2008 to signal possible uptrend. Might have confirmed uptrend today by formation of gap up and significant increase in volume.

130MA might be a level of resistance.

80.5 might be a level of resistance.

Good luck to all MER traders!
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