Indofood Agri 300908

After our discussion on 22 sep, Indofood Agri couldn't hold onto its 0.900 support (pink ...), tested the 0.840 support (blue ...), finally breaking the 0.800 support (blue --) on monday and closed on the 0.770 support (green ...).

Indofood Agri even opened below the 0.770 support and right on the downtrend support (mid pink), before recovering to close above the 0.770 support.

I've indicated s short-term uptrend channel (blue). The 0.900 neckline (pink ...) now looks quite strong. It could take awhile before we can see Indofood Agri testing that neckline again, provided it can remain in the uptrend channel.



For thursday :

Support @ 0.780 (upp blue), 0.770 (green ...), 0.685 (green --), 0.670 (low blue, mid pink), 0.555 (low red), 0.550 (low pink)

Resistance @ 0.800 (blue --), 0.815 (upp pink), 0.840 (blue ...), 0.866 (mid red), 0.900 (pink ...)