9 Jun 2008

Reported at 1130hrs SGT
GY
Looking at the daily chart, WMA5 has rebounded off EMA100 and is well supported there. Looking at the last candle on 8 Jun, buyers are coming in resulting in a tail that leaves the price above 207.

CCI look flat, suggesting that the uptrend may not prominent. The market may consolidate for a breakout.

If WMA5 continue in upward trend, I will place the resistance at 208, then 209, then EMA200 (211).

On the reverse, support is found at EMA100 at 206.2, then EMA55 at 205.5