Raffles Education 090409

Raffles Education finally managed to close above 0.415 neckline (blue ...) after testing it a few times over the last few days. It even tested the 0.430 resistance (red ...) today.

Most trades (137 trades) were done at 0.425 (8,547 lots - with about 3/4 are buy ups). 2nd most trades (133 trades) done at 0.415 (with about 60% buy ups).

The 0.430 resistance could prove a little difficult to break as both the downtrend resistance (upp red) and uptrend resistance (mid blue) meets there. If Raffles Education manages to stay above the 0.415 support (blue ...), we could see it trade sideways between 0.415 and 0.430 as it attempts to build a base.

If the 0.415 support breaks, we could see Raffles Education re-test the 0.400 support (green --).

If Raffles Education breaks the 0.430 resistance (red ...), we might see it go all the way and test the 0.455 resistance (blue --).


For monday :

Support @ 0.415 (blue ...), 0.410 (lightblue ...), 0.405 (mid red), 0.400 (green --), 0.392 (low blue), 0.380 (low red, green ...)

Resistance @ 0.425 (mid blue), 0.430 (red ...), 0.432 (upp red), 0.440 (upp blue, red --), 0.455 (blue --)