Good evening all,
I have a quick post for tonight.
This is Golden Agri, E5H.SI. Ever since the middle of the year, Golden Agri has been sliding down from a high of around 78 cents to 60 cents. The recent test at 60 cents is a region where strong support can be found. All of us can identify where the strong resistance and support levels are on Golden Agri’s chart because of the generally sideways market in the last few years. Technically, Golden Agri looks cheap since it is hugging onto strong support for now. Indicators are giving out bullish convergence signals that support the case for upside (in red arrows). I am looking at either a mid-term trend-change set-up or a quick rebound from relatively low levels. There is always a chance that support is broken, and Golden Agri will trade much lower. Therefore, it is vital to have good money management skills to couple with analysis. Also, always take what we see presently.
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