CSE Global has failed to break the 20D MA and 61.8% Fibonacci Resistance at about $0.98. This turning down also shows the start of corrective Elliott Wave C. Next immediate support is $0.84 (50% FR) followed by $0.70 (38.2% FR).
First Resources returned to test the support turned resistance level of Symmetrical Triangle but failed. A Bearish Engulfing candlestick pattern was formed at the 50D MA resistance at about $1.35. This breakdown of Symmetrical Triangle chart pattern will send First Resources to target price of about $1.08, which is also the 61.8% Fibonacci Support Level. Sit tight for this downward momentum!
Olam has been very volatile in recent weeks swinging up and down. Base on current chart, Olam is facing a tough resistance at about $2.515 (which is the down trend resistance line, 50D MA resistance and also the 61.8% Fibonacci Resistance). Olam will be turning down if the share fails to break this resistance. There was a Deaisen (Bearish Meeting Lines) candlestick pattern, which is a reversal pattern, formed at 50D MA resistance which showed Olam has failed to break the resistance. Looks like $2.00 is the next possible price target in the coming weeks.
