Tuesday, June 15, 2010

Genting Approaches Double Bottom Measured Move Target Projection


After clearing above 1.07, the light blue immediate resistance is the next band to overcome. This band marks the projected target for the double bottom breakout confirmation based on the difference between the pink support and the 97.5 milestone. A strong breakout above the immediate resistance band will probably test the green resistance zone followed by the orange resistance region.

Take note that any pullback from the red upper channel dual resistance lines will retest the lavender immediate support area. Further weakness may find support at $1 .

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