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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: Thb32.76 - 55-DMA 
*RES 2: Thb32.55 - 21-DMA 
*RES 1: Thb33.39 - Low Jan 2 now resistance
*PRICE: Thb32.24 @ 2300GMT
*SUP 1: Thb32.12 - 2018 Low Jan 5 
*SUP 2: Thb31.88 - Monthly Low Sept 8 2014 
*SUP 3: Thb31.80 - 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 Thb31.80 today. The
Bollinger base (Thb32.17) and O/S daily studies are key concerns 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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