Reported at 0730hrs SGT
GY
Is it really going to get stuck at 213.3? Or will it be able to break free from 214?
Looking at the daily, EMA21 is closing in, meaning that together with EMA200, it will form a tougher support at 211.6 and 210.8 region. Moreover CCI showed good reversal and provided BB do a breakout.
Will it go up? Compare GY with UY (resisted at 108.5 region). FTSE100 was a whip-saw yesterday and Fed again announced that rates will not be going up amid inflation with crude rebounce back to $137 - a really mix direction.
But if there is going to be a breakout, it will be strong - a big fat candle, only which direction.
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