Follow up on WilmarOn 20 July 2012: We discussed that there is a congestion going on for Wilmar. A move above 3.820 may indicate upside; whereas a move below 3.510 may indicate downside.On 26 July 2012: Wilmar closed at 3.430 signal the possibility of further downside.
As shown on the chart, a move below the Median Line of Andrew's Pitchfork signal the possibility of testing the lower bound. On hindsight, the pivot level will be 3.39 - 3.40. On 27 July 2012: Wilmar crossed below 3.39, it went down to a low of 3.210. It closed at 3.280
My personal opinion:
From a range bound perspective, a sideway trading range may see 3.190 - 3.320.
From a trending perspective, a move above the Median Line of Andrew's Pitchfork may see the possibility of retesting ......
