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Genting Singapore seems that forming a Falling Wedge now. If Genting Singapore cannot break the wedge resistance at about $1.60 to $1.62, Genting SP will head toward the recent low of $1.42.
Genting Singapore is still on down trend. Previous post here.
Base on the chart, Genting Singapore has formed a “Lower Low, Lower High” Down trend chart pattern. Genting SP is currently testing the previous low of $1.49. Breaking previous low support will continue the down trend for Genting Singapore with next support of $1.31.
Genting SP breaks the 50% Fibonacci support at $1.595 today with a gap down. If this gap is not refilled in the next few days, Genting SP will continue the down trend and heading towards the next support of $1.50 (the gap which formed in August 2010) followed by $1.417 (38.2% FR).
