Z-Obee   

Double Dojis Waiting for BB Action

Z-Obee Double Doji Testing Support Zone

Market waiting for Big Bulls and Big Bears to take action. Doji indicates Bulls and Bears in equilibrium. Watch the breakout direction and probable support and resistance zones.


For upward bull breakout expect the following high probability bear resistances at

1. Immediate resistance at 37.5

2. Light blue resistance zone

3. Red horizontal resistance of ascending triangle

4. Upper green channel resistance boundary


For a bearish breakdown the bulls will stage high probability support at

1. Immediate support of the upper boundary of the dark blue channel

2. Green support zone

3. Lower boundary of green support channel

4. Sloping trendline support of red ascending triangle

5. Pink support zone

6. Ichimoku kumo cloud support

7. Lower dark blue channel support boundary


View chart at http://tactcharts.blogspot.com/2010/03/z-obee-double-doji-testing-support-zone.html