After a breakout to a high of 2860, the STI retreated to hit interim lows of 2800 and has been trending sideways within a range of 2826 and 2800. A break above 2826 means a resumption of the uptrend and a break below 2800 would mean a continuation of the major downtrend.
Above is a daily chart of NOBLE GROUP. Its behaviour is similar to the STI. It hit resistance of the 55day moving average and even fallen below the 21 day EMA. Its price action is a bit weak, but support at 1.10 and 1.05 is quite strong.
Above is an end-of-day chart of Golden Agri. Again the same price action; after rebounding from a low of about 0.59, it hit a recent high of 0.67 and has corrected somewhat. But today's candle seemed rather suggestive of a reversal as it is a strong bullish engulfing pattern. Upside target is 0.67 (at the 55day moving average line) and 0.69 (at the 144day moving average line). Support is at 0.59.
After a breakout to a high of 2860, the STI retreated to hit interim lows of 2800 and has been trending sideways within a range of 2826 and 2800. A break above 2826 means a resumption of the uptrend and a break below 2800 would mean a continuation of the major downtrend.
Above is a daily chart of NOBLE GROUP. Its behaviour is similar to the STI. It hit resistance of the 55day moving average and even fallen below the 21 day EMA. Its price action is a bit weak, but support at 1.10 and 1.05 is quite strong.
Above is an end-of-day chart of Golden Agri. Again the same price action; after rebounding from a low of about 0.59, it hit a recent high of 0.67 and has corrected somewhat. But today's candle seemed rather suggestive of a reversal as it is a strong bullish engulfing pattern. Upside target is 0.67 (at the 55day moving average line) and 0.69 (at the 144day moving average line). Support is at 0.59.
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