This is a video chart on MMTC. I wanted to do this, a couple of reasons, one, I did have some questions on it and it’s pretty battered today down at the Penny Market. Another reason is that I feel like focusing on something bulls that happened in the market today. You know I could always do one of the disastrous SMP or NASDAQ charts but there really wasn’t too much green on the day. I suppose, it is gold, but nice to see that thePenny market was able to produce such a nice, winner for people and some solvent liquidity trading. The big boards maybe taking a beating but there’s still some light down here in the Penny’s so that’s always an encouraging sign. As like I said, I want to focus on the great spot here rather than all the doom and gloom that you’re starting to hear.


So the first thing that I kind of got questions on was what happened here and is there something to panic about. I would say, This is just normal market activity. Let’s remember that all of last week and even before that, you have people who were basically able to get shares from this point, down as low as here. So when you focus in all this area here and you look at the mono buying that happened during that phase. This was more than likely just profit taking, I mean the price gets up above the Penny, you would be stupid not to have at least lock in some of your profits.So, I attribute this to simply just profit taking. If the support levels start to fell and they come in days, maybe there is something more. But for the time being, it didn’t held far, It didn’t close above this phase above the moving average, so I just attribute this to simply people being smart and locking in their profits. And actually there’s nothing wrong with that.

The key event that happened today and a very bullish thing was this right here. Not only did the bulls, let me take a step back, this line here is the 200- day moving average, not only did the bulls break above it, they actually demolish it And then closed well above it too. So this is a nice sign of strength here by being able to break through this key moving average. And then on that same note, this will be the first key level of support, so if there’s any sort of continued fall back, this will be the first area that we want to see hold strong as support. And then ideally, the lowest we would want to see it go is this level down here, which I will change to green to represent support and this is valued at 0.0024 and really depending on your strategy. Technically the price could come all the way down here to this purple line. And as long as it held, and the over all chart is essentially bullish. Then before you call me crazy, let me set up so let’s think about it. The price did drop back all the way down here, hovered around, before heading back up. We would have this set of lows here, we would have this set of lows down here and we have another set down here. As we see each set of lows is higher than the previous ones.so what does that mean? That means you have the ability to draw an uptrend line.and that’s the name of the game. Now, if you are a day trader, then that would definitely violate your stop losses and you would want to move on. And if you are in this for a longer term swing trade, then you are on this on an over all diferent chart or story. Then really this 50-day down here is as low as you know, you could see it, drop all the way down here and still remains bullish on the day. And I want to make a correction, I said the decisive 0.0024, is actually, I meant there 0.0048. So, 0.0048 would be the ideal level but down here at the 50-day, 0. 0028 is gonna be where for the long term player, you can keep an eye on that. In terms of resistance level, for argument’s sake, we can call this high up here, 0.013, a little miniature resistance but as far as I’m concerned the chart is essentially in a blue sky break out territory. It’s stunted up here and you can see that. You know, this is the high that I haven’t seen in a long time. And you can call back two cents some off this resistance but for argument’s sake let’s call 0.013 a little resistance because that’s where the profit taking started today. But after that, it’s essentially back in a blue sky territory.