I remember a few people asked me, why would a price retrace at key resistance areas, whether it is a fibonacci resistance, or a moving average resistance. Why can’t the price just break out? Well, the price could break out. And what you would find thereafter is the price coming back down to test that [...]

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I promised Alvin that I will take a look at some of the charts, especially SPH so let’s see where it goes. First let’s take a look at the STI and the DOW. Not too many noticable trendlines, so I am using fibonnaci and 20MA resistance as a guide. For the STI, notice we are [...]

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