downwards to 145.4x??

The beast has broken the support at 147.5 region and made a lower low on the hourly chart. Profit taking activities might bring up the price to the confluence of the upper trendline, fib 50% of yesterday hi-lo range and the previous support which should now turned to resistance.

Should the price fail to go beyond 147.50, there is a possibility that the beast would further dive to fib 161.8% (145.50 region).

Let see how the market play it out. Below is the hourly chart as of 7 am Malaysia.




2 comments:

  • Excellent job!I hope you post this blog more frequently.

    I appreciate your post very much.

  • Appreciate your comment.

    I now posted less as I am now inclining towards longer term trades. Furthermore, I do not want this blog to be a signal service, especially to those newbies.

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