First Resources: 11 June 2014, Wednesday, 12.04pm Singapore Time
Attached above is the chart of First Resources.
In tune with Crude Palm Oil Analysis:
$2.40-$2.55 band forms the peak. $2.40 is doing a bearish confirmation currently. The bearish confirmatory rebounds are executed in the midst of rosy outlook and ECB money printing. This is an excellent move by the market to lure retailers, traders and investors in while setting up to trap them with resumption of major downtrend.
All palm oil related commodity stocks to go bearish and resume major long term downtrend.
Donovan Norfolk Technical Rating:
Peak formed. Major selling takes over.
Bearish
(Sell on Rebounds)
Peak formed. Major selling takes over.
Bearish
(Sell on Rebounds)
Donovan Norfolk Ang
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