Dow Jones Industrial Average Weekly Chart Testing Critical Supports

1. Testing of critical 200SMA weekly support in progress. A successful rebound from this support will be challenge by the pink immediate resistance zone.



2. The 200SMA weekly confirmed the complex head and shoulders reversal pattern formed in 2007 and 2008. In 2010 it confirmed the failed head and shoulders formation.



3. DJIA has retraced towards the lower channel support region. There is a high probability that the lower green channel support may be tested. Immediate support is indicated by the green zone.



4. Any upward surge above the pink immediate resistance area will see a retest of the 12000 milestone. Further upthrust will reclaim the red bold downtrend resistance line followed by the next resistance shown by the light blue zone.



5. Conversely if the green immediate support band give way the 10000 milestone will be tested followed by the next support region indicated by the yellow rectangular box.

Genting Bearish Engulfing Pattern

Bearish Engulfing candlestick pattern formed as price approached strong resistance zone as indicated by the red bear icons. High probability that there will be a test of both the lower channel support and the gap support shown by the red rectangle zone. A weak bullish support may see further decline towards the Ichimoku cloud. A breakdown below the bold blue 200 EMA support will most probably signal further declines.

Global Logistics Properties 30 mins chart Testing Critical Supports

Critical orange support and red dual uptrend support being tested on 30 mins chart. Support failure here will result in further declines. Conversely, a successful rebound will probably test previous resistances.

Potential Supports

1. Blue support band

2. Pink support area

3. Green all time low major support belt


Potential Resistances

1. Ichimoku Storm Cloud

2. Resistance band at 2.30 to 2.29

3. All time high peak resistance 2.33

Yanlord Testing Potential Reversal Zone

Yanlord is testing the red bold rectangle potential reversal zone. A successful rebound within this zone will probably propel price towards the blue upper channel resistance at around $1.80 and may retest the higher resistance of the red band at about $1.90

Support failure of the red rectangle zone will probably find new support at one of the potential dotted support lines as indicated on the chart.

Genting Channel Within Channel

Resistances

1. Upper dual resistance band of blue minor channel

2. Upper dual resistance band of red major channel

3. Milestone $2.50


Supports

1. Natural psychological support $1.90

2. Orange support zone

3. Green support zone

4. Lower dual support band of blue minor channel

5. Gap Support Band $1.30 to $1.35

6. Lower dual support band of red major channel

Sinotel Testing Ichimoku Storm Cloud

Resistance Zones

1. Immediate Resistance Ichimoku Storm Cloud

2. Dual Green Downtrend Line

3. Red Resistance Band

4. Upper Blue Channel Resistance

5. Dotted Blue Resistance Band



Support Locations

1. Immediate Ichimolu Storm Cloud

2. Orange Support Zone

3. Lower Blue Channel Support

4. Late May Early June 2010 Congestion Region

5. 30 cent Milestone

Z-obee Testing Neckline Support Zone of Complex Head and Shoulders Formation

The high probability prediction of a multiple right shoulders formation was posted on 7 July 2010. This right multiple shoulders pattern has been confirmed and further weakness had plummet price towards the neckline support zone. The decline within the blue down trend channel is now testing the neckline support zone of the complex head and shoulders formation.

Upside Resistances

1. Immediate resistance of the upper boundary of the blue channel

2. 40 cents milestone

3. 43 to 41.5 cents resistance belt

4. Right multiple shoulders resistance band


Downside Supports

1. Immediate support of the lower boundary of the blue channel

2. Red neckline support

3. Mid June 2010 trough support at 32.5 cents

4. 30 cents milestone

5. Strong Green Support Zone