On Thursday, Golden Agri re-tests the resistance at $0.795 and closed at $0.795 with LOW volume of 35.2 million shares traded.
During the past 10 bars, there have been 6 white candles and 2 black candles for a net of 4 white candles. During the past 50 bars, there have been 20 white candles and 16 black candles for a net of 4 white candles.
Both RSI & MACD are bullish though RSI near overbought region.
Important Resistance of Golden Agri: $0.795
Immediate Support of Golden Agri: $0.74
Currently prices are well above 20/50/100/200 days MA.
Since 15/Nov, prices have been well supported at the 200 days MA. In the fact, the strong rebound at 7/Mar/12 affirms to this thinking.
The support at $0.69 (200 days MA) is expected to be strong.
We would suggest to buy only when prices pullback to …