Double Resistance around ~820 level

٢٧ يناير ٢٠١٤

We're observing two price resistance levels: one from the 820 level which has served as strong support over the past several weeks, and an upper edge resistance from the longer-term channel. Price is touching the bottom edge of the shorter term channel, but judging by the strength of the longer-term channel resistance as well as the 820 resistance level, we are likely to see a bearish breakout within the next few periods.