Hi, just an update on the overall market and on Noble group and Golden Agri. Above is an end of the day, daily chart of the STI. It performed very strongly today, breaking through the 78.6% fibonacci retractment to end just below the 55d moving average. I strongly believe that momentum for the STI is to the upside. The next few resistance levels are at 2862 and 2875, but i think the key resistance level would be at 2900; the place of the previous major pivot. The earlier 2 resistance levels are the previous high and the 144d moving average. Support is at 2800.
Above is a daily chart of the STI. It continues to be rather weak, with support at $1.05 still pretty strong, but it appears to be unable to even clear the 21d moving average line.
Golden agri, on the other hand broke through its 21day moving average quite convincingly on the back of a strong showing yesterday. Next two resistances are at 0.67 and 0.69. Support is at 0.610.
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