CMP : 5564
CANDLES: EOD Candle formed a Spinning Top ... BULLS & BEARS unable to prevail , ending in an uneasy stale-mate
TREND LINES:
RES !@ : 5663 (UTL)
Obsvs for SMO_SAR:
1. Price closed >> 5DHEMA (5523)
2. 5DLEMA (5459) has x-over UP ABOVE the 10DEMA (5431) !!! (indicates extremely OVER HEATED BULLISH sentiment)
3. Wkly Close > 5Wk-HEMA
4. Mnthly Close > 5Mnth-HEMA (this is for now, we still have another 7 Calander days of Feb'12)
SMO_SAR VERDICT:
1. BULLISH until proven otherwise, hold Longs for Tgt : 5663,
Defensive SL : 5DEMA = 5500 or Aggresive SL : 5DLEMA = 5459
2. Shorts only , ONLY once we see EOD close below following Price Levels:
Aggresive Shorts can be built on JNSAR @ EOD price close below 5DHEMA = 5523
Defensive payers, should wait for EOD price close below 5DLEMA = 5459
cheers
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