Follow up from previous call made on 4th July 2013. Kreuz has managed to stay above the 0.700 new support level and trended upwards. As mentioned previously, 0.800 would be the next critical resistance level which it has also tested yesterday but failed to cross above. Likely to consolidate awhile from 0.75 to 0.80 before attempting a breakout again as we have seen it surge up by quite a fait bit over the past 2 weeks already. A break above 0.800 can see it search for new high in strong momentum probably from 0.84 to 0.86 level first. Are we seeing The next Ezion ? Support at 0.75 currently. Aggressive traders can consider averaging up if the 0.805 gets lifted and take profit all together a few bids higher.
Stop loss at 0.735 for entry trades around this level.
UOBKH – 24 JUNE 2013
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