NRCP - Support at 2.6; resistance at 2.95

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NRCP = 2.65 (+1.90%)

NRCP formed a white candle. Volume continues to decrease.

NRCP seems to be testing support at 2.6. I hope the support holds.

Fibonacci Retracement: more than 61.8%. Unhealthy retracement. NRCP will find it difficult to achieve the similar high formed by the previous rally or uptrend.

32MA acting as level of resistance.

MACD: MACD crossed below signal line above the zero level to signal sell long.


NRCP weekly: formed another black candle with lower low and lower high.

Rally or Uptrend failed to move above a possible resistance at 2.95.

Corrected more than 61.8% of the Fibonacci retracement level. Unhealthy retracement. Rally or uptrend less likely to occur following drastic correction.

Seems to be forming aggressive supply or resistance line.

Careful NRCP traders...
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October 24, 2008 at 12:46 PM
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