Further retracement lower as mentioned yesterday morning?
Sent: Thursday, December 17, 2015 9:53 AM
Subject: ********** Ezion: Downtrend intact, a short term technical rebound seen.... still negative below 0.625.... price 0.605
Subject: ********** Ezion: Downtrend intact, a short term technical rebound seen.... still negative below 0.625.... price 0.605
We have seen Ezion stage quite a good rebound from the 0.55 level over the past few days. Resistance would be at 0.62 – 0.625 now which was originally the support level it broke down from last month. We may get to see some selling pressure again as it nears this resistance with longer term downtrend still intact. Those looking to increase short positions can consider short entry again near this resistance with buy stop at 0.64. Only the upside breakout above 0.625 – 0.63 will invalidate our bearish scenario, in this case a recovery will shape towards 0.68.
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