This chart illustrates the importance of reviewing monthly charts. Class participants may remember I am big on mid points. $3 low plus $20.78 high gave a mid point of $11.89. They are often buying zones. Having said that however, there is no way the move back to $18 could have been expected, or forecast.

I would anticipate now though, resistance on the trend line, and a move back to $15 in the short term.

$10.09 was the high for 1987 - a very emotional point. As I showed in class, this would always represent a strong support level. Those who have done the advanced class last year would have noted the target we had of $12 off the double top at $20.