Above is an end of day candlestick chart of the STI. The STI rallied in the afternoon on hopes that the threat of mass credit downgrades by S&P will force European leaders to quickly come up with a convincing framework in resolving the euro zone debt crisis.
Momentum, shown by the MACD, continues to rise. The MACD chart has been on an uptrend since late August, with it tracing higher lows so far. There appears to be some underlying strength in the market. The index has been oscillating around the 50day moving average, and the medium term trend is still sideways. The longer term trend is still down. Support is at 2700 and the next resistance is at 2900.
Above is a daily end of day candle stick chart of Golden Agri. It has continued to be on an uptrend since late September 2011. Both short term and longer term trends are up. Momentum is also up. Support at 0.70 has held over the past few days, so this appears to be strong support. Resistance is 0.745.
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