Tuesday, March 16, 2010

ECU Technical Analysis

In a previous post, I listed ECU as one my recommended Junior precious metal miners. Let's perform a technical analysis review for ECU.

Now let's take a look at a daily chart:

The daily chart is at a decision point. ECU is trying to gold the breakout with the gap up from a week ago. ECU needs to follow through. We'll know shortly ... now let's take a look at a weekly chart:

Look at how nice the Fibonacci fan lines worked. I'll dedicate a post to Fibonacci fan lines and arcs in the near future. The weekly chart is at a decision point, and here too ECU looks good here too. Finally, let's take a look at the big picture:

ECU found support at .50, and it held. Looks good.

Recommendation: BUY BUY BUY 

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