Can Genting SP clear this Down Trend Resistance?

Genting SP has rebounded from the support of about $1.20 and currently testing the down trend resistance line (also 20D SMA) at about $1.29.  This level is an important level to watch if Genting SP wants to stop this short term and medium term down trend. Long term Genting SP is still on down trend because 200D SMA is still sloping down. If support at $1.20 is broken, Genting SP will continue the down trend.

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