where is it going, page-4

Hi Guys,

My input only:

The combination of resistance being tested (possible triple top), stochastics midway down, and volume weakening, seems to show likelihood of the SP (Share price) heading south.

If it does, and hits #1 (see chart) then likelyhood of testing of support (quadrupal bottom). OBV also shows reverse action at the support points.

If current price behaviour continues and along the track SP hits #1, then the indicators and volume by then should show oversold signals. At this point it would seem a lower risky entry point than right now.

If it breaks past #2 then SP could reach at least 40

Also at #1 is the end of a descending wedge, so it could go either way.

However if it breaks the support then there could be some strong selling to the lower 30s.



So in summary, looking at this in the technical probability point of view, short term selling to 36.30, before a possible rally to at least 40.