Here, too, the main uptrend is intact, but the upward momentum has clearly stalled. Quarterly momentum is trending sideways; both five-day stochastics and 21-day RSI are retreating. Resistance has been established at $1.44, and prices are likely to consolidate sideways in the near term.
Volume has dwindled and the daily range has shrunk. ADX is falling. All these are signs that prices could be staying range-bound for some time. Support has been established at $1.25.
Source : The Edge – 23 Apr 2013
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