Tuesday, May 06, 2008

Reported at 1130hrs SGT

GJ
From the daily chart, WMA5 managed to go above EMA100. Will it maintain the momentum to hit EMA200?

The amrket may consolidate to swing the price down and therefore keep WMA5 below EMA100. If that is so, you will see support at 205.8 (EMA21) and 204.7 (EMA55).

On the other hand, if WMA5 managed to hang on to above EMA100 (207.0), it will have momentum to run towards 211, then 214.

Overall CCI, look down.

GU
CCI look down, but sign of doji appeared.

Support is at 1.9600 (Fib retracement, low level)

Resistance is at 1.9830 (EMA55), then 1.9920 (EMA200)

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