On Friday, Golden Agri re-tests the support at $0.65 and closed at $0.65 with HIGH volume of 0.14 billion shares traded.

Three black candles occurred in the last three days.  Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Both RSI & MACD are bearish as MACD about to perform a cross down.

Important Resistance of Golden Agri: $0.685

Immediate Support of Golden Agri: $0.65

Currently prices are resisted by 20 days MA.

Golden Agri under go selling pressure on Friday due to news on oversupply of palm oil in the market.

Prices continue to trend downwards sharply and forming a “lower low” and “lower high”.

Due to the bearish trend, we would avoid this stock for time being

However the support at $0.62/$0.61 is expected to be strong, do watch for ...