Thursday, 23 February 2012

23/2/2012 ; 60 min chart ; 3272.


Broke down but made u-turn! May turn back to bullish if tonight's soya oil price gains.  Support ;3245, 3202, 3170. Resist; 3294, 3305, 3385. Range target; 3245 - 3355.

15 min chart;

Wednesday, 22 February 2012

22/2/2012 ; 60 min chart ; 3250.

Bearish - start of a correction. Recorded a new high of 3294 before 'water-falling', all in the last couple of hours. Broke down from the 'bearish flag' and turned bearish and closed at the lows of the day with a fairly higher volume. Support ; 3230, 3202, 3170. Resist; 3294, 3305. 3385.

22/1/2012 ; 60 min chart ; 3268. ( LATE REPORT)

Sideways  - still within 'bearish flag' even though not making new highs. Looks 'toppish' at the  moment but today's close may confirm. Support; 3255,3230, 3202. Resist; 3276, 3305. 3385. Range target ; 3240 - 3280. 

Monday, 20 February 2012

18/1/2012- 60 min chart ; 3245

Bullish - still within the 'bearish flag' charting a higher high of 3276 and a higher low albeit a lower volume. Open gap up but closed near the lows of the day. Market seems 'out of breath' at the closing after opening very strong. Support ; 3220, 3202, 3171. Resist; 3276, 3305, 3385. Range target; 3220 - 3310.

Friday, 17 February 2012

17/2/12 ; 60 min chart ; 3242

Still bullish but was stopped out. Price is still within 'bearish flag' . Charted a higher high and higher low. Support ; 3220, 3205, 3171. Resist ;3255, 3270, 3285. Range target ; 3220 - 3275.