Today's candlestick price action of the STI is a 'gravestone doji' - not a good sign. Short term resistance is 3060, support is 2980. The 200dMA line is now acting as a strong resistance. Both 50dMA and 200dMA are turning down, so the trend of the STI appears to be down. However, the MACD indicator appears to have bottomed out and is turning up, so the overall picture is mixed. In my opinion, the STI needs to close above both the 50D and 200D moving average in order to signal a change in the downtrend.
The picture for Noble Group is more positive. Both the 50Day and 200Day moving averages are on an uptrend, the price has closed above the 50day moving average during the past 3 days and the MACD has bottomed out and is turning up.
The resistance now is $2.12 and it looks like an entry around the 50d moving average (about $2.16) represents a good low risk entry.
The picture for GoldenAgri is also quite positive. The price appears to have found support at $0.61 and has made its way above its 200day moving average line. It appears to have found resistance at its 50day moving average, having bounced off the line on 2 occasions. Momentum as shown by the MACD is back on an uptrend and i think any weakness in price represents good opportunity to enter a long position.
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