Thursday, July 24, 2008

24 Jul 2008

Reported at 0700hrs SGT
GJ
Finally, the support has shifted to 214. Using a Fib Retracement from peak of 26 Jun to 16 Jul, you will get a resistance at 217.5. Make a division, (217.5+214)/2 you will get 215.75. And that is around the peak of yesterday or the half way mark to 217.5


GJ may or may not test 217.5 today, but at least it will try to break 217, therefore I will set 216.9 as a mark.
Support is obvious at 214.1 then at 212.5, before going to EMA200 at 211.9

GU
It is consolidating now. Looking at the daily chart and with all the EMAs squeezings, it may not be soon for a breakout.

Support is at 1.990 for break south, going to 1.980, then 1.970.

Resistance is at 2.004, then to 2.01, then 2.016.

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