Dukang has just broken its immediate support at 0.45, 0.455 today. Has been trading above this levels since mid of May 2013. We have seen it dipped down once to this support level last month before rebounding upwards to above 0.55. More downside can be possible if it does not creep above this 0.45 new resistance level within the next few days. Potential downside to 0.40 then 0.36. You can see a slight Descending triangle formation breakdown of support where the highs formed are lower than the previous high and horizontal support at 0.45 broken. As long as 0.45 remains as the new resistance level, we are bearish.
Buy stop at 0.465 for CFD SELL trades.
No comments:
Post a Comment