Sunday, August 22, 2010
Noble
This is daily chart of noble. On 17th August, 3 days after 13th August 1.54 low, noble sucessfully broke up the downtrending channel. It is about 61 days from 21th May bottom when the break up happened. Noble got to stay above 1.68 to keep the bullish momentum sustainable. It is important that Noble hold the 1.54 support on any pullback, otherwise lower low can be seen months ahead...
Saturday, August 21, 2010
NOL day 7
This is daily chart of NOL. NOL has been trading in a tight range between 1.99 and 1.92 for 7 days since it bottomed on 12th August. On 10th August NOL broke down back to the resistance line and until today any attempts to overcome this resistance line has failed. Will NOL break down 1.92 next week?
Saturday, August 14, 2010
Swiber
This is daily chart of swiber. It tried to break up the support-turned-resistance line on 21th June and 26th July but failed as higher price is rejected by the cyclical resistance. On 12th August, swiber dropped to 0.99 just at 50 day moving average after 26 days from early july low. Can swiber be supported by the 50 day moving average?
Thursday, August 12, 2010
What happened to NOL?
This is daily chart of NOL. NOL has been going up from May bottom for about 52 day to 2.16 high on 6th August. Since then NOL dropped all the way to 1.92 low today and about 27 day from last low on 5th July. This 1.92 is an important support and also a fibo support, Will NOL break down soon? On 25th May and 5th July, NOL was supported by my indicator(Not shown)and started to go up...
Wednesday, August 11, 2010
STI Update
This is daily chart of Strait Times index. As you can see from the chart, STI is trading in the uptrending channel. As long as STI does not break down from this uptrend channel, the bullish uptrend is still intact...
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