Golden Agri 090409

Golden Agri broke the 0.310 (red ...) and 0.320 (green ...) resistances today, although with volume that was just a third more than yesterday's. Golden Agri is still trading within the uptrend channel (blue).

Golden Agri has been on the uptrend since the beginning of march, so we might see some profit taking next week. This could mean Golden Agri trading sideways between the 0.310 support (red ...) and 0.320 neckline (green ...).

We could also see Golden Agri consolidating around the 0.315 level as the uptrend support (mid blue) meets the long term downtrend resistance (upp red) sometime next week.


For monday :

Support @ 0.322 (upp red), 0.320 (green ...), 0.315, 0.310 (mid blue, red ...), 0.305 (red --), 0.302 (low red)
Resistance @ 0.330 (pink --), 0.335 (upp blue), 0.340 (blue --)