Disclaimer

Disclaimer:-Please note that all such analysis is provided by way of information only. All of the information was and should be taken as having been prepared for the purpose of reference only and that none were made with regard to any specific investment objective, financial situation or the needs of any particular person who may receive the analysis. Any recommendation or advice that may be expressed in or inferred from such analysis therefore does not take into account and may not be suitable for your investment objective.

Friday, August 15, 2008

Indofood Agri 140808

After testing the 2nd downtrend support (low pink) yesterday, Indofood Agri recovered today to break the downtrend resistance (mid pink) and uptrend support (blue).

As you can see from the chart, Indofood Agri is now trading quite near to the 1.42 resistance (pink --). And we also have the downtrend resistance (upp pink), meeting the long term downtrend resistance (low red) near the 1.40 level. So we might see Indofood Agri softening a little once it hits that level.

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For tomorrow :

Support @ 1.326 (blue), 1.258 (mid pink), 1.07 (low pink)
Resistance @ 1.40 (upp pink, low red), 1.42 (pink --), 1.48, 1.61 (upp red, red ...)
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