Following on an earlier discussion dated 19 Feb 2013, we discussed that Wilmar International is having the possibility of further pullback to 3.350 - 3.400 upon breaking below 3.580 - 3.600. A move below 3.200 suggests that the downward trend may remains intact, while 3.400 is the immediate pivot level to look out for. Wilmar closed at 3.540 on 25 Feb 2013.
While it is premature to conclude a cup and handle formation in the making, the probability of testing 3.400 seem possible. The current immediate support is 3.340 - 3.380 (gap support, 2 Jan 2013) and 3.840 - 3.850 (gap resistance, 5 Feb 2013).
Putting everything into perspective, I have the opinion of four possible paths that may be in play:
(1) A move below 3.200 will suggest the possibility of testing 2.300 - 2.410, which may coincide ......
