A buy signal was confirmed when this par closed above 101.1800 on Apr-16-2008. 4xGenie’s Action: ==> Buy this par at 101.84. Stop at 97.82. Wave 3 could rise up to 104.50 or to 106.99. The resistance level of 101.47 was broken when prices closed above the middle pitchfork line. The market seems to be gaining strength. The market closed above the middle fibonacci fan line. Prices should find support on this middle fan line. This reflects strong consolidation here! The CCI is above 100. This commodity or security is overbought at this time.

TRENDLINE ALERT: Resistance level of 100.50 was broken today. Look for a possible rise to the next resistance level.

Next Day Trading Ranges for Wednesday Apr 16, 2008

The 20 day moving average of the daily trading range is 177 and the 60 day moving average of the daily trading range is 192. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 72.96 percent. This means that if this par does not drop more than 44 from the opening price then there is a 72.96 percent chance that this will be an upday.

The [R3] or the most extreme high trading range is 104.43.

The [R2] or the extreme high trading range is 103.13.

The [R1] or the high trading range is 102.41.

The [P] or pivot point is 101.11.

The [S1] or the low trading range is 100.38.

The [S2] or the extreme low trading range is 99.08.

The [S3] or the most extreme low trading range is 98.36.

Next Day Alternate Stops for Wednesday Apr 16, 2008

The red line to the right on your chart is an extreme support or resistence level for the next trading day.

A good alternative stop is one which is placed just beyond this extreme support/resistance level.

In this particular case if the price drops below 99.08 then that would show momentum against 4xGenie’s long position and that would be a break out to the downside.

Please Note: These support/resistance levels are calculated by using the previous day’s trading range. Normal volatility may cause a breakout of this value once every 4 or 5 days when prices consolidate.

Alternate stop: 98.63

Current Day Trading Session:

New momentum to the upside has just started.

Next Day Trading Session:

If the next day’s close is below 98.63 then that could be a sign that the current upward momentum is reversing.

4XGENIE