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CMSB reaching closer to the 20d MA

Written By Unknown on Wednesday 12 September 2012 | 8:40:00 pm

CMSB is retracing to the 20d Ma after setting a new higher high. Will the 20d MA support become the support pillar to form a high low and rebound back?









 Indicators
1 ) Trendline - Broke below the Uptrendline ( Bearish) . Need to break above 3.27 to remain bullish
2)  Support/Resistance - Formed higher high (Bullish)
3) MACD - Bearish and waiting for 4R1G for bullish reversal
4) RSI - Retracing from 70%  (BEARISH)
5) STO - Retracing towards 50%( Bearish) .
6) Ichimoku -  a) Price above support cloud (Bullish).
                       b) Conversion line above the base line (Bullish).
                       c) Price above the baseline ( Bullish)
7) Candlestick Pattern : Formed spinning top in decision to bear or bull on the next trading day


Conclusion:
Bullish if break above 3.28
Possible of going up temporary forming higher low

Resistance- 3.27 (Trendline Resistance on 13 Sept) / 3.51/ 3.78
Support -   3.25 / 3.06 / 2.93
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