LTG: Having a hard time breaking the resistance

LTG is having a hard time breaking the resistance at 17.65 or the 61.8% Fibonacci Retracement level. Today it is showing a weak bearish signal via the Kijun Sen / Tenkan Sen Cross. The bulls might be getting tired of trying to break the resistance and may result to a fall. We are currently looking at 16.76 as our immediate support and as long as it will hold, LTG will be able to retain its upward trend.

RSI or Relative Strength Index is currently at 38

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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