Monday, February 8, 2010

Genting Triple Blockade Halts Upthrust



Upthrust unable to breakout above triple blockade formed by

1. Plum channel resistance boundary

2. Blue channel resistance line

3. Orange resistance zone

Bulls need to regroup for another attempt to ram the triple bears combine barricade.
If successful then next resistance is the light blue resistance zone followed by the orange resistance line.

Immediate pink support line being tested and breakdown will drop to upper green channel support followed by lavender support zone. Further weakness will plummet price to test the green mid channel support and the blue channel support. A breakdown below the brown 200 SMA suppport means this casino will be invaded by bears.

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