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SYF Failed to Break above 0.7 twice

Written By Unknown on Monday, 10 September 2012 | 06:35

Today SYF was on the bull surge in the morning and was attacking 0.70 but unfortunately there was a big resistance at 0.70 where about 5000 lots was place at 0.70 to sell. Due to the weak buying force, the price began to retreat where it started






Minute Chart on September 10












  Indicators
1 ) Trendline - Above the bullish trendline (Bullish)
 2)  Support/Resistance - formed Higher Low ( Bullish)
3) MACD - Bearish and let waits for 4R1G to bullish reversal
4) RSI - At Overbought and retracing to test the 70% ( Slightly Bearish) if break this level will confirm   bearish
5) STO - At Overbought mode. if Break below 80% it will indicate Bearish
6) Ichimoku -  a) Above  support cloud (Bullish).
                       b) Conversion line above the base line (Bullish).
                       c) Price above the baseline ( Bullish)
7) Candlestick - Formed Doji Star (Click here to understand more)  ( Bearish)


Conclusion:
Bullish
If break above 0.7 and 0.73

Next Resistance at 0.73/0.745 / 0.76 /0.8
Support at 0.645 / 0.62
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