2 May 2008

Reported at 1000hrs SGT
GJ
WMA5 was constrained within EMA100 and EMA55 from the daily chart. It will be expected to have more ding-dong around this region before a breakout. The constrain gives a price region of around 207 and 204.5

Should a breakout up happen, it must break past the price of 208 for the WMA5 to clear EMA100, then reach the resistance at EMA200 at 213.8 or first half way mark at around 211.

Should the price break pass EMA55, it will gain support at 202, then 200.

Overall CCI indicate a sluggish up trend, showing sign of a rebound off EMA100.

GU
Looking at the daily chart, for the past days, EMA200 post a big resistance at 1.9930.

CCI showed up trend and therefore potential that will move the price towards EMA200. A breakout is possible will bring GU to 2.0000, then 2.1000. But looking at how the EU perform, the USD look to have more strength.

On the support, 1.9680 (Fib retracement) then 1.9600.