(Click On Chart To Enlarge)
From March 11th:
"Possible Support #2: 4.95-5.06 - the mid-to-late 2005 lows were 5.00...5.00...5.02...5.06. In the daily chart, the failed Inverse H&S target that is IN PLAY is 4.95, "suggesting" a test of that 5.00-5.06 horizontal support area."
XING put in a low of 5.10 on March 20, four cents above the top of the Support #2 area. There now are three highs in the hourly chart at 5.88...5.89...589. It isn't a strong pattern (only of three weeks' duration), but if XING can take out those highs, 6.66 would be IN PLAY, as long as XING trades above 5.89. More importantly, a successful upside breakout here would be the first bullish move in XING in nearly six months.
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