Support did not hold yet again at 1.40 and 1.30……. now 1.215….. now what? What a sell down seen?
Sent: Friday, November 21, 2014 10:38 AM
Subject: *******************Ezion - Consolidating below key support turned resistance now... price 1.405, Still negative below 1.42
Subject: *******************Ezion - Consolidating below key support turned resistance now... price 1.405, Still negative below 1.42
From Previous SELL CALL, Ezion has indeed breakdown the 1.40 hard and fast and traded to a low of 0.325 before staging a temp technical rebound. Immediate resistance would be at 1.42 now which was originally the support level. As long as it trades below it, there can still be more downside in the midterm. 20 day ma LINE still sloping downwards firmly at the moment. Only a breakout above 1.425 will invalidate our bearish scenario for the short term. CFD SELL can be used again near 1.42 resistance level for those that has already taken profit and bought back at the low.
From previous Bearish sell call, Ezion has indeed traded back to 1.42 support level and even broke below it today with a low set at 1.41. CAUTIOUS, CAUTIOUS !!!
Any breakdown below 1.40 will not be good and can lead to further downside to 1.30 then 1.26. As long as 1.54 is a resistance now, we are bearish. Further CFD SELL to ride the down on a breakdown below 1.40 support. Looks like a imminent breakdown soon.
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