Genting Testing Major Multiple Resistance Zone

Since 4th March 2010 green channel support rebound price has been rising and is now testing a major multiple resistance zone comprising of the following barriers :-

1. Red neckline resistance of the complex head and shoulders pattern

2. Dual upper resistance band of the green channel

3. Blue 200 EMA resistance

4. Brown 200 SMA resistance

5. Green resistance belt

A major breakout here will retest the pink resistance region followed by probable key resistances at 1.10, 1.15, 1.20, 1.25 and finally a challenge of peak resistance band at 1.30 to 1.32

However if the breakout of the major multiple resistance zone fails expect a pullback towards the lower dual support boundaries of the green channel.