Short term uptrend , mid term side
After a long run now the trend is side way since Jan 2014.
The support uptrend which was intact since end of 2012 is broken in May.
There is also a support trend since Dec 2013, which broken once in Feb 2014.
On the other hand 170 is a psychological support,.
So next resistance is 171.7
But watching the chart squeezing between downward channel, SMA 20 &50
and on the other side the support trend and support of 170 will continue the side action
The support uptrend which was intact since end of 2012 is broken in May.
There is also a support trend since Dec 2013, which broken once in Feb 2014.
On the other hand 170 is a psychological support,.
So next resistance is 171.7
But watching the chart squeezing between downward channel, SMA 20 &50
and on the other side the support trend and support of 170 will continue the side action
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