Technical analysis on 2012 Formula 1 drivers championship betting graphs shows two key support levels that could predict Vettel’s car abandoning the race and Alonso’s win in the latest Valencia Grand Prix! Betting odds of Vettel winning 2012 drivers’ championship started off with an uptrend up to 7.0. Then Vettel’s odds retraced back to the support level at 3.0, that was confirmed at least 3 times as indicated in the betting graph. During the recent F1 visit in Valencia and due to Vettel’s great performance on Sunday, odds surpassed the support level and went down to the key support level at 2.00, that being the lowest low since the start of 2012 Formula 1 championship. Traders didn’t allow the odds to drop below that support level and when Vettel’s car failed and was stopped long before the race’s final laps, the odds skyrocketed up to 9.00 due to panicking layers! That support level was a great entry point that has already been proven profitable!
At the same time Alonso’s betting graph to win this year’s F1 drivers’ championship clearly shows the Spaniard as the favorite driver to win the title. This time the betting graph uses the inverted axis of implied chance %, which is useful for pointing out the key support level found at 10%. Alonso’s chance to win the Formula 1 championship title steadily climbed to 30% before it dropped down to 10%. Notice that the key price level acted as a resistance level in the past, when a double bottom formation indicated a likely trend reversal. Only a few traders were lucky enough to trade long Alonso’s chance and back the Formula 1 driver to win 2012 championship getting paid 9 to 1! Given his win in Valencia Grand Prix the odds quickly fell to 2.25 to 1 and backers can now trade out securing their profit, several months before the end of the F1 championship!
