22 Jun 2012. STX OSV created a weekly doji candlestick near to an important juncture. Doji candlestick represents indecision. As such, there is a possibility of range bound between 1.440-1.530.
Attached is the daily chart of STX OSV
A move above 1.52-1.53 may see the possibility of breaking above both Median Line of Downtrend (in dotted red) and Uptrend (in dotted blue) of Andrew's Pitchfork. The subsequent uptrend move may face resistance around 1.565-1.600, before assuming to test the Upper bound of Downtrend Andrew's Pitchfork, and higher.
Whereas a move below 1.45-1.465 may see the possibility of testing the Lower bound of Downtrend Andrew's Pitchfork which may coincides with the 61.8% retracement level of 1.385 based on the rise of 1.275 to 1.565. And subsequently to test the Lower ......
