Wednesday, August 13, 2008

13 Aug 2008

Reported at 0730hrs
GY
It did a big down yesterday, pushing the price below the support at 208. WMA5 has punched through the last EMA - EMA100. Will the momentum stop? WMA5 has not clear 208. But the next level of support is at 203.2 (Fib Retracement from 23 Jul Peak to 16 Jul Low). Give it half way for a stop at around 205.

If WMA5 rebound off 208 support, place the resistance at 209/ 209.2, then 210.3 (EMA100)

GU
Has it has more momentum to go down? Support is at 1.883. Before breakout to 1.8 (which will then be too much for GBP!)

The level of resistance depends on where GU rebound. A value if it rebound today is at 1.915, then 1.933

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