On Wednesday, Golden Agri re-test the support at $0.62 and closed at $0.625 with LOW volume of 99.76 million shares traded.

An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body). The engulfing bearish pattern is bearish during an uptrend. It then signifies that the momentum may be shifting from the bulls to the bears.

Both RSI & MACD are turning flat as RSI turn sideways.

Important Resistance of Golden Agri: $0.635

Immediate Support of Golden Agri: $0.62

Currently prices are well below 20/50/100/200 days MA.

From the chart, we could see that Golden Agri has been well supported at the $0.62 level.

Moreover there are low trading volume for the past sessions which affirms that the selling pressure has eased.

The support at $0.62 is expected to be strong.

Watch for any consolidation ...