Tuesday, February 19, 2008

19 Feb 2008

GJ Hi at 211.50
Lo at 211.69

Resistance remain unchange at ~213.60 (1 day EMA55)
Support remain at ~210.73 (1 day EMA21)

Long Limit order placed at 211.50, TP 212.50, SL 210.50
Short Limit order not placed as I have one short order still open. TP at 209.60, SL at 211.60

GU was supported at ~1.950. I am expecting some whip saw movement in the region 1.960 and 1.950.

A long position above at 1.960 (1 hour 200EMA) will be good for entry.
The next level of support is found at 1.938. CCI signals still show GU having the potential to go lower. Reversal may not in sight today.

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