Point and Figure Charting Message Board

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Strategies & Market Trends : Point and Figure Charting

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To: chartseer who wrote (25132)	1/20/2001 6:11:17 PM
From: James Strauss	Read Replies (1) of 34822

The Bullish Support Line (BSL) was first breached by a column of 5 O's... stockcharts.com The Bearish Resistance Line (BRL) must first be breached by a column of X's... I agree that there is usually a pullback test after a breach, but first you need the breach... There are currently 10 X's trying for the upside breakout... That's double the column of O's that started the downside break... The current demand side now looks stronger than the initial supply side breakdown... Couple that with a cycle of interest rate cuts, and you have the ingredients for an upside breakout... Jim

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