5 Mar 2008

Singapore Time 0700hrs
GJ

Take a look at the daily chart

Price now is ~205.4

Year low happens to be around 203/204 and that provided a good support. In addition, the CCI indicator showed a turn around.

The next resistance is at EMA21 (daily chart, above) at 208.6

Of course, in the down side, GJ may attempt to slide below 203 and made a move towards 200, but look unlikely today. Again, 203 proved to give the support. Take a look at the 1 hour chart.
From the 1 hour chart, WMA5 has cleared EMA55 (1 hour chart) and look likely to attempt EMA100 and EMA200 (1hour chart). In addition, EMA21 is also attempting to clear EMA55. GJ therefore look more to move up than down today (technical speaking).

GU
Take a look at the 1 hour chart.



WMA5 is sandwiched between EMA200 and EMA100/EMA55/EMA21.

Yesterday is another attempt by GU to breakout north, but failed.


Resistance is set at 1.990 but will face another tasked of breaking the daily EMA200 at 1.996. See chart below.



On the other side, should the price break EMA200 (1 hour chart ) at 1.981, it will gain support at EMA55 (daily chart) at 1.975