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STI is in the process of forming a Double Tops and currently testing the 50D MA support at about 2,920. The next support is at about 2,860 which is a 200D MA followed by the Double Tops neckline at 2,701 (which is also 78.6% Fibonacci Retracement Level). Breaking down the neckline support will send STI [...]
HL Asia is trading within an Ascending Triangle. At the moment, the direction is not very clear because HL Asia may breakdown or breakout to go up. Looking closely at the chart, a mini double top is formed with the neckline (green) somewhere between $3.40 to $3.50. Breaking down from this mini double top will [...]
JP Morgan (JPM) bounced back from 50D MA resistance and also 23.6% Fibonacci Retracement Resistance at $40.3 and punched through the neckline at $37.70 yesterday. Need to monitor whether this selling momentum is str0ng enough to confirm the Double Tops. I believe other traders are watching this level closely and prepared to short sell when this double tops [...]