Genting is coming down

In my last entry on Genting, I predicted that Genting would go to 1.16. Well, it did and it went higher still. Today, it went as high as 1.20. It is good in a sense because I am seeing a completion of C wave


Fig 1 Genting Daily Chart

The wave pattern of Genting is a little complex. In fact the whole wave have to start on 19th Jan 2010, of which Genting is at its peak of 1.30. There was definitely a 3 waves down completing A before a congestion and reversing in trend. The second set of wave B seems to me a complicated pattern of abcxabc with today as its peak.

It went the highest today, at the same time, Genting gives opportunity for the indicators to show some divergence, having said that, divergence has not completed, but I guess it is not far away.

In addition to what is said. The whole set up is probably a top formation with a double top. the second top is work in progress and additional indication of divergence.

For the time being, there are only signs of reversal and no solid proof of its objective.So we will have to pend for confirmation of the seriousness of this fall.