Monday, May 26, 2008

26 May 2008

Reported at 0800hrs
GY
Looking at the daily chart, WMA5 again failed to punch through EMA100 and now hangs in between EMA100 and EMA21/EMA55.

Naturally EMA100 at 205.8 gives the resistance line while both EMA21 and EMA55 hold the support at 204.1

The question is that which direction will it go? GY may take a dip towards EMA21/55 (may hit 203.3 - Fib retracement) before bounce off towards EMA100.
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