First Resources returned to test the support turned resistance level of Symmetrical Triangle but failed. A Bearish Engulfing candlestick pattern was formed at the 50D MA resistance at about $1.35. This breakdown of Symmetrical Triangle chart pattern will send First Resources to target price of about $1.08, which is also the 61.8% Fibonacci Support Level. Sit tight for this downward momentum!
- Post author:Marubozu
- Post published:September 11, 2011
- Post category:First Resources
- Post comments:0 Comments
Tags: Symmetrical Triangle