Friday, May 21, 2010

Genting Hammer Variant Testing Neckline Channel



The powerful Ichimuko Kumo bear grip has forced price to fall from the top of the cloud until the bottom of this storm kumo.Once again the neckline channel of the complex head and shoulders pattern is being tested. Immediate resistance at 93 must be overcome to advance to the 95 milestone. Major resistance is the green former support turned resistance zone.

If weakness returns then a drop into the red neckline channel will be inevitable followed by a test of orange support band. Major support is the lavender support base.

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