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.
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.
Saturday, 18 February 2012
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.
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