Bullish view

2013年1月9日

Google`s price action remains very technical as we can see from the chart. It has held its 61.8% Fibonacci level almost perfectly (red dot). The second technical signal that suggests the bullish price movement is the breaking of shorts (blue dot) and the very healthy retracement afterwards, which gave better entry for the bulls. With the second Fibonacci we have drawn we can see that the extension has received participation and gave us a very good entry which we can play with a moderate stop loss(712). The price target we are looking for is a a little above the 820 level.
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