Friday, January 28, 2011

MBT update 1-28-2011


After a good strong support we stated early Jan 2011.
http://theamazingchart.blogspot.com/2011/01/fli-and-mbt.html
MBT had a good bounce of its 60-63 support and a very interesting RSI of 30 flat which enables us a good entry point with, so far within this week, it managed to hit 66.xx today.

MBT is short term downtrend, and looks like following to short term dowtrend BLUE line. And still has a small chance to get a highs of 68.xx - 70.xx (its short term downtrend resistance), before it falls down again and continue its consolidation.

In my own trading ways, ill better wait for MBT to go down to 60 again OR breakout of its short term downtrend lines OR hit new RSI lows.

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