4 Apr 2008

Report at 1000hrs SGT

GJ
Big move up, clear EMA21 (daily chart). It is now testing EMA55 (daily chart) at 204.1.
Looking at the WMA5, it is still below EMA55 and should it clear EMA55, price could reach resistance at EMA100 at 208.8.

To 208.8 is a big move, but GJ is capable of doing so. It may however, halt half way at 206.2 or 206.4.

On the reverse side, GJ may failed to punch through EMA55. If it is so, the price may fall back to support at EMA21 at 200.7.

The price now is around 204.1 to 204.4 region, which is the support before GJ did a dive to 200, then to 195. As such, there is a likelihood that GJ may take a breather. CCI showed tapering off, coming to a overbought position. If so, reversal would take place.

GU
GU did a good up yesterday, the price stop at 1.9980.

Support is at EMA200 (1 hour chart) at 1.9900 and EMA100 (1 hour chart) at 1.9880.

CCI showed momentum to go up. If so, it can easily break 2.0000 and hit to 2.0040 (Fib retracement)