Thursday, June 12, 2008

12 Jun 2008

Reported at 0730 SGT
GY
As predicted yesterday, GY has problem breaking out of 210.7

Looking at the daily chart, a double top was formed. CCI showed no strength in up trend and EMA200 offered a strong resistance at 211.4

The 1 hour chart show a momentum down and support is at EMA100 (209) and EMA200( 208.2)

A likely scenario is that GY will attempt to test EMA200 (211), but fall back to support at 210. Another possible is GY will began descend, forming part of the B-wave, before going up to break EMA200 at 211


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