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Testing Ichimoku Kumo Support on 30 mins chart
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tact888
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15-Apr-2010 18:54
Yells: "Learn a life-changing skill and empower yourself. tactcharts" |
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5 April 2010 Broke out above 1.27 and began a fantastic run up to 1.85 8 April 2010 Pulled back to 50SMA and 50EMA supports. 9 April 2010 Gapped up on opening from previous day close. Almost touched Ichimoku Kumo support and an amazing rebound propelled price towards 1.85 15 April 2010 Early morning trades established 1.85 peak. Pierced 50SMA and Ichimoku Kumo support but managed to close above both the 50SMA, 50EMA and the storm clouds. A breach of these 3 supports and the gap support at 1.73 will see further weakness. A breakdown below the red channel will retest the next support zone at 1.67 to 1.65 However a successful rebound from the Ichimoku Kumo support will meet resistance at the upper trendline of the red channel. Any further upthrust must challenge the 1.85 peak convincingly. View chart at http://tactcharts.blogspot.com/2010/04/cosco-testing-ichimoku-kumo-support-on.html |
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