YM Analysis for Oct. 12, 2006

Soultrader · #1 (**permalink**) 10-12-2006, 08:59 AM

We have now entered the 5th day of consolidation with overlapping value.
Today will be very interesting as there is a chance price may break. My bias is for price to break to the upside above the 11942 - 11945 mark.

Yesterday price declined rapidly below value just to find STRONG buyers around 11850. This indicates price acceptance in this new zone ever since price broke out of the May highs.

Currently, pre-market action is trading at a critical point of 11944 right at the upper range extreme pivot. This pivot will be crucial to watch. Price may either break rapidly to the upside or reverse to the downside.

See attachment for charts.

Soultrader · #2 (**permalink**) 10-12-2006, 09:26 AM

Update:

Pre-market SSF's show significant volume. Looking to see a possible continuation gap and a nice trend day

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