KS Energy is forming a wedge and the volume is dropping. It also broke 20D and 50D MA support levels. $1.161 is the critical support as it is 61.8% Fibonacci retracement level and also the wedge support. Base on the chart, probability of breaking down from the wedge support is higher than breaking the resistance of the wedge (which KS Energy has tried 4 times). The current level is not the entry point for me.
- Post author:Marubozu
- Post published:October 21, 2009
- Post category:KS Energy
- Post comments:0 Comments