Thursday, December 17, 2009
Hourly chart as at 410pm showing support at red and blue channels. Fibonacci retracement at 38.2% and pink immediate support zone being tested. Blue channel support failure will see slide down red channel to green support zone and Fibonacci retracement at 50%. Both stochastics and RSI are oversold but MACD still falling. Technical rebounce will probably be resisted by red upper channel line. Any breakout above red channel will be challenge by light blue resistance zone.