Friday, July 25, 2008

25 Jul 2008

Reported at 0830hrs SGT
GY
It did not managed to sail towards 217, but did a very big retracement - that gives a good buying opportunities.

As predicted, support was first hit at 214, it will gain a further support today at 212.5 (EMA21), then 211.7 (EMA200)

Looking at wave theory, that will be the formation of the B-wave, and should support anchored at EMA200, be prepared next week for a good C-wave up.
Resistance is at 214, then 215.7


GU
Though on its way down, but WMA5 still above EMA21 and EMA200. Give it at 1.9800 a good support (EMA55/EMA100) and should WMA5 cnot fall before EMA100, GU will rebound.

Support is at 1.9700(JUl 7 and Jul8 low).

Resistance is at 1.9965, then 2.0035

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