Wednesday, March 29, 2006

Mediaring: Bull run or double top?



Immediate Resistance: 0.355/0.38
Immediate Support: 0.33

Mediaring Closes at 0.35 today which is the intraday high. The level is slightly higher than the the previous high of 0.345 on 21st Feb. If Mediaring will to U-turn from here, it will form a double top, which is a bearish sign. However, since it is able to close at intraday high today and US future is +ve at the moment, I would expect it to open slightly higher tmr. If 0.355 is broken tmr, Mediaring may test the next resistance at 0.38.

0 Comments:

Post a Comment

<< Home