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Asiasons 30mins chart as at 7 Nov 2013 1215pm - Channels In Play
Gap support indicated by green band and blue channel mid-band support zone are being tested.
The mid-band of the blue channel was acting as a resistance zone initially as seen by the yellow area and this former resistance band later turned into support band as indicated by the orange regions.
A successful bounce from the blue mid-channel band will see next resistance at the upper zone of the red downward channel being tested. A strong upward breakout above the red channel will propel price towards the upper boundary of the blue.
Conversely, a failure of the blue mid-band support will result in a slide towards the lower support of the red channel and any further weakness will retest the lower blue channel support.
Remember to be as nimble as a deer.
View charts at http://tactcharts.blogspot.sg/