28 May 2008

Reported at 0900hrs SGT
GY
Looking at the WMA5 and the price from the daily chart. WMA5 is between EMA21 and EMA100, but price is saturated at EMA100 at 206.2.

How will the movement be?

A possible case is that WMA5 will hit EMA100 and that brings the price up to 206.4- 206.8 (based on peak on 22 May and 7 May) before making a reverse. Else it will be a shoot towards EMA200 at 208 (half way point)

Support is at 205.5 (Fib Retracement) and 204.4 (EMA21)