6 Mar 2008

Time SGT 0945hrs (computer very slow, so no pics)
GJ
Looking at the daily chart, CCI is still gaining strength. But of course, the price tested EMA21 (daily chart) with a day high of 207.77 and now fall back to 206.55.

I am expecting some form of slow down today, or even a down candle, but in general, GJ will attempt to at least sail towards EMA55 (daily chart) at 211.3

The hour chart support the above claim. WMA5 (1 hour chart) now lies between EMA200 and EMA100 (1 hour chart). Should the price break above 207.77, it will continue towards 211.3. But should today, the price break 205.5, clearing EMA55 and EMA21 (1 hour chart) at the same time (which can be difficult), it will find support at 204.3 (year low).

GU
A big dogi formation looking at the daily chart, which means buyer and seller on par. Buyer trying to break the EMA200 (daily chart) at 1.997 and seller trying to break the EMA100, EMA55, EMA21 (daily chart) at 1.972. It ended with the WMA5 still in between EMA100 and EMA200 (daily chart).

Looking at the 1 hour chart, WMA5 is now above all the EMAs. This means that potentially the price may hovers around EMA200 (daily chart) at 1.997 and EMA200 (1 hour chart) at 1.982.

Should price sail pass 1.997, it will find resistance at a good 2.03, a big fibonacci retracement! Take a half way mark for profit.

Should the price break below EMA21 (daily chart) at 1.972, it will find support at first 1.9667, then 1.9600