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Bear Channel Base The Focus Once...>

DOLLAR-THB TECHS
DOLLAR-THB TECHS: Bear Channel Base The Focus Once More
*RES 4: Thb32.92 - High Nov 17 
*RES 3: Thb32.80 - 55-DMA 
*RES 2: Thb32.59 - 21-DMA 
*RES 1: Thb33.39 - Low Jan 2 now resistance
*PRICE: Thb32.24 @ 2300GMT
*SUP 1: Thb32.17 - 2018 Low Jan 4 
*SUP 2: Thb31.88 - Monthly Low Sept 8 2014 
*SUP 3: Thb31.82 - Daily Bear channel base 
*SUP 4: Thb31.72 - 2014 Low July 22
*COMMENTARY: Fresh 3+ year lows and bearish closes add weight to the bearish
case targeting a test of the bear channel base around Thb31.82. The Bollinger
base (Thb32.31) is the key concern for bears with potential to limit follow
through. Layers of resistance continue to accumulate and add weight to the
bearish case. Bulls need a close above the 21-DMA to confirm an easing of
bearish pressure.

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