Sinotel Cup and Handle Weekly Chart

A breakdown from the 50 cents blue dotted immediate support line will see a retest of the lower support of the red channel. If this lower boundary which forms part of the handle of the cup and handle formation fails expect more downside to the 42 to 40support zone.

However, a rebound from 50 cents will retest resistance at 53.5 flowed by 57.5 and the 59 to 60 resistance zone.