Golden Agriculture (GAR) is currently trading in a Symmetrical Triangle. It also can be seen that GAR is trading between the 50D MA and 200D MA for the past two months. The trading range ($0.64 to $0.68) will be small until there is a breakout. Currently there is no trend for GAR as the stock is trading in whipsaw pattern.
STI has been on the bullish last week. However, STI may have reverse the trend as the Singapore Straits Time Index is facing the 200D MA resistance at about 3070, followed by 50D MA resistance of 3100. If STI does reverse at the 200D MA resistance, a “Lower Low, Lower High” down trend pattern continues…..
A Shooting Star candlestick was formed at the 200D MA resistance and 61.8% Fibonacci Resistance. This is a potential reversal pattern. Next support at $2.785 which is the 50% Fibonacci Support.
