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The best you can see from the chart, weekly chart is that after the price action tested and retested the high in 2013 and 2014 again. The price action start to drift south starting from 2014 and ended the low in August 2015. Now the price action has retrace north. So, what’s next?
See analysis that follows.
E5H Golden Agri Resources Limited Weekly November 13, 2015
The shooting star with long tail has already provide the bearish hint. Next the price action get resisted by the 50 MA. Look left and think right, the shooting star also get resisted by the support turns resistance significant level. So, what’s next? Bullish? Bearish? Picture worth a thousand words.
November 13, 2015 Golden Agri Resources Limited Weekly
E5H Golden Agri Resources Daily
What have you understand when the price action open low as yesterday low and closed higher than the yesterday open? This is very clear that the previous day the bear was dominating, but the bull won the next day. The bull is very strong. Can the bull maintain the momentum? This is a bullish hint. Will see.
November 13, 2015 Golden Agri Resources Daily
Hope you find the posting is high quality. There are every reasons of what I see from the chart.
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