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Wednesday, 11 June 2014

Golden Agri: 11 June 2014, Wednesday, 1.50pm Singapore Time

Golden Agri: 11 June 2014, Wednesday, 1.50pm Singapore Time
Chart courtesy of Chartnexus.com

Attached above is the chart of Golden Agri, an STI index component stock as well as a major palm oil commodity stock.

+ Alert Amber Volume as shown.
+ Mid-long term break down of Double-blue support lines
+ Triple Suppression along double-blue support-turned-resistance
+ Further triple suppression along 58cents-62cents resistance.
+ 58cents-62cents resistance will be used by Smart Money to launch the bear market in golden agri.
+ Crude palm oil commodity resumes major downtrend in the last RED CIRCLE as shown.

+ Target:
Breakdown of 50 cents support and formation of new multi-year lows.


<< WARNING: Failure To Rebound on MAXIMUM +10.000 FFA >>
+ Maximum +10.000 FFA in the big wind/broad market is completing and U-turning, and this had been the best performance that this stock can offer (to be trapped a support that is turning into resistance).
+ Resumption in sell-off will now proceed to do further damage.
+ Financial markets are transiting to bear markets as per warned beforehand in Daily Funds Flow Analyses.
Corrective wave is ending for resumption of the Major Down Wave.

Donovan Norfolk Technical Rating:
End of Consolidation with many retailers trapped
Bearish
(Sell on Rebounds)

PAST GOLDEN AGRI ANALYSES:
http://donovan-ang.blogspot.sg/2014/06/crude-palm-oil-cpo-5-june-2014-thursday.html


Donovan Norfolk Ang

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