ERAWAN : Possible ramp brewing
March 17, 2011 Leave a comment
A quick glance at ERWAN’s day chart shows it’s not for the faint of heart, but there could be a ramp brewing here we think, so a spike in price to 2.30 or so can’t be ruled out.
Currently at 2.22, there is stiff resistance from 2.24 to 2.28, but it could easily break above here given it is generally a low volume affair. Theoretical entry a 2.20 with a 3-4 spread stop, with an initial target at 2.32