weekend charting 22/01/10, page-34

pencilin, (KZL)

LT fork in blue, ST forks in green and red. EMA 195(black), 41(pink), 34(gold), 8(green). Stoch(15,5,3).

Price has broken below the support tyne on the green ST fork, but the lower tyne has not yet been back tested. You may get some support off the red support tyne for the back test, which should also serve as a back test of the EMAs. Green is about to test prior to an EMA8 cross down. Longer term support is at 78.

I would be concerned at this point. I would also look at the blue lower tyne as a possible entry for a longer term position, but a plan for the possibility of a failure of the blue support tyne should be prepared first.