Wednesday, July 28, 2010

Noble Doji Indecision Near Critical Support



Since top reversal on 18 Mar 2010, the major trend is down. Currently trying to bottom and turn upwards but with massive indecision and strong downward pressure.

Critical green dash support zone must hold for any chance of a rebound. Any upward move will probably be challenged by the following resistances

1. Red dual resistance zone of the upper channel

2. Bold blue 200 EMA

3. Ichimoku Kumo Storm Cloud

4. Bold green 200 SMA

Conversely any breakdown below the green dash critical support may find new support at one of the following

1. Red dual support zone of the lower channel

2. Blue down trendline

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