Above is a daily chart of Golden Agri. After making a double bottom around $0.620, it has rallied strongly to close just below resistance of the 50day moving average and the previous swing low of $0.690. Momentum, as shown by the MACD, is bullish.
Here is a chart of COSCO Corp. Overall picture is not as bullish as Golden Agri. The price is still below the 200day moving average and is facing resistance at that level, which also corresponds to the previous swing low. Momentum is only just starting to turn up. If it manages to break above the 200day moving average, next resistance is at $2.00
Olam made a strong showing today. Momentum is upward, but it is facing strong resistance of the 50day, 200day moving averages and previous swing high at around $2.84.
No comments:
Post a Comment