24 Mar 2008

Report 0800hrs SGT

GJ
Today may be another low volatile day for GJ - Easter Monday Holiday.
Lokoking at the daily chart, a breakout could happen at either 198.3 and 195.0

Should GJ break up, resistance will be at 200.9 (EMA21 daily chart) and should GJ break south, the support will be at 192.5

Should GJ break 192.5, it may make a new low towards 185.0

GU
Looking at the daily chart and making a Fib retracement from 14 Mar High and 20 Feb Low, the first retracemene level is at 1.976, before 1.936

Again looking the daily chart, CCI indicate a uptrend. This means that a possible rebound off 1.976 level and head towards resistance at 1.998 (EMA200 daily chart).

But if rebound failed, CCI will go into oversold position and GU will break 1.976 level and head towards low at 1.936.