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Testing Channel Resistance on Weekly Chart
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tact888
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20-Apr-2010 12:23
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Testing of dual resistance of blue channel in progress. A move into the upper channel region will meet the 50% Fibonacci Retracement resistance followed by the green resistance belt. If further buying interest continues a retest of 61.8% Fibonacci Retracement resistance is imminent. However if the upper channel resistance cannot be overcome then expect a pullback to 1.40 and the lower blue channel support if there is further weakness. View chart at http://tactcharts.blogspot.com/2010/04/yangzijiang-testing-channel-resistance.html |
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