ON PREVIOUS POST, SMGR PULL BACK TO 1ST SUPPORT 8400 & FORMING PATTERN 4 INSIDE CANDLES. AFTER THAT, PRICE MANAGES TO BREAKOUT RESIST 8950.
ON 4 OCT 2010, SMGR KISS IT'S UPPER CHANNEL AGAIN, AS WE HAVE STATED ON ABOVE CHART, UPPER CHANNEL ACTS AS RESIST & A VERY NICE POINT TO TAKE PROFIT.
RIGHT NOW, SMGR IS FORMING A TRIANGLE WITH SUPPORT 9600 & RESIST 10150. ANY BREAKUP OR BREAKDOWN FROM THESE 2 LEVELS WILL MOSTLY CONTINUE THE BREAKOUT SIDE.