Tuesday, May 19, 2009

Today's Markets

The 10 day chart is very interesting. First, notice the downward movement that occurred starting at the beginning of last week. Prices moved lower, moving through previously established lows, for a majority of the week. On Monday prices gapped higher and continued that trend a bit today. But prices moved lower several times, holding the $91.30 level until the last move of the day.

Notice how today's action stayed right at the Fibonacci level.