The high probability prediction of a multiple right shoulders formation was posted on 7 July 2010. This right multiple shoulders pattern has been confirmed and further weakness had plummet price towards the neckline support zone. The decline within the blue down trend channel is now testing the neckline support zone of the complex head and shoulders formation.
Upside Resistances
1. Immediate resistance of the upper boundary of the blue channel
2. 40 cents milestone
3. 43 to 41.5 cents resistance belt
4. Right multiple shoulders resistance band
Downside Supports
1. Immediate support of the lower boundary of the blue channel
2. Red neckline support
3. Mid June 2010 trough support at 32.5 cents
4. 30 cents milestone
5. Strong Green Support Zone
Posts
No comments:
Post a Comment