Chart shown as at 14th Feb 2014 1.04 pm
Potential inverted cup and handle formation is observed and its yellow immediate support is being tested. A close below this yellow area will confirm this inverted cup and handle formation.
Next potential support below the yellow band is the blue zone and if further weakness happens price will test the green support region.
Take note that this is the 6th attempt to breakdown below the yellow support band. The bulls managed to defend the yellow support zone for the last 5 previous bear attacks.
IF there is a close above 40 cents the upper blue downward dotted channel resistance may be tested.
IF price clears the blue dotted down sloping channel it will challenge the pink resistance zone.
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