SPC 290208

After hitting the 7.50 psychological resistance (light blue) on 25 feb, we saw SPC softening, which could be due to profit taking.



I've done some housekeeping and re-adjusted the uptrend channel (blue --). I've also added a downtrend channel (red --).

From the chart, we can see that SPC is trading very near to the downtrend resistance (upp red) and downtrend support (low red --). If these 2 trendlines break, we might see SPC testing the 6.66 neckline (light blue ...).

For monday :

Support @ 6.963 (low blue --), 6.86 (upp red), 6.84 (low red --), 6.66 (light blue ...), 6.52 (low red)

Resistance @ 7.31 (upp blue --), 7.35 (green --), 7.42 (upp red --), 7.50 (light blue)

Good Luck !!