DSE General Index finds its support line.

As a part of our Breakout, Support-Resistance and Trend Line learning, today we will discuss the chart of Dhaka Stock Exchange (DSEGEN Index). Before start please see the below chart first:

DSE General Index, May 27, 2013

After forming a double bottom, indicated as Oval, the DSE General Index broke its first resistance with large volume, indicated as R1. Then DSEGEN Index also broke the second resistance with large volume, indicated as R2. 

After forming a bearish candle, (pls. see the last apex candle), DSE General Index has stated to fall. We've got a green candle after consecutive 3 red candles. I have drawn a resistance line, indicated as Line R and a support line, indicated as Line S. Last green candle helps us to draw this support line.

I have also drawn a average volume line, indicated a Line V that indicated a very poor volume.

The  bottom line is - Market needs some fresh money to hold this sell pressure. We are near the ending point of Support and Resistance. So, any time we can see a Breakout or a Breakdown.