Mikula Forecasting Company

MarketWarrior Off-Line Post #199

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Written by: Patrick Mikula CTA
P.O. Box 152672
Austin, TX 78715-2672
USA
www.MikulaForecasting.com
support@MikulaForecasting.com
Copyright © 1994-2008 by Patrick Mikula All Rights Reserved. (Please to not copy or foreword this article).
Post Date: 2008/Nov/25
Post: #199

Post Subjects
_____ 1.) Making Swing Price Targets
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1.) Making Swing Price Targets
The chart below shows a composite chart for the interest rate Eurodollars, the pit symbol is ED and Globex symbols GE. In the interest rate markets the 200 day moving average has proven to be a major support and resistance level where tops and bottoms often occur. The chart below shows the 200 day moving average as a red line. The trend in this market is clearly up. The next downward correction should form a bottom on the 200 day moving average. This technique does not predict when the bottom will occur. When the price reaches the 200 day moving average in the future, we can view this as a buying opportunity.