Doji candlestick bar formed on 7 May 2008 tested upper channel resistance but failed to breakout above it. Shooting star candlestick bar appeared the next day giving a warning signal that a potential change of short term uptrend was imminent. Current down candlestick bar confirms the doji and the shooting star formation. Immediate support is $1.11 . Expect strong support between $1.10 to $1.05 due to multiple support from red mid channel line, 20 days and 50 days EMA lines. If $1.05 support cannot hold the lower blue uptrend channel support line will be tested.
1 comment:
If your hightened parts of the brain 'd fuse with mine... You cover allot I'd like to study and understand, but wouldn't know where to start a proper understanding of, haha. Thanks for the comment.
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