Last month I ventured that a suitable target for a possible Bear Flag would be 0.7250 & promptly on the last day before I was due to write my report for this past month we got there! There is some further support at 0.7239 & 0.7216 but the real stuff doesn't come in until the Middle Tine of the Jan - Feb Schiff Pitchfork that has been the driver of this market & that's currently at 0.7201! Below that nothing major until 0.7111 & the Dec 2007 low at 0.7087! Topside we have the Upper Tine of the previously mentioned SP but also the Lower Tine of the longer term 2012 - 2013 SP move! Interestingly these are coincident with each other next Tuedsay the 3rd of Mar so watch out for possible volatile or changing markets! Overall, all MAs point downwards so the bullet point stays the same! Be cautious - a lot of TAs are seeing some potential major changes during Mar!
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