Sunright Ltd – Daily timeframe (Update from 07 Oct 16)
Current Sentiment: Bullish
Support 1: 0.315 Resistance 1: 0.360
Support 2: 0.285 Resistance 2: 0.385
The uptrend is still moving along smoothly after the last update as price stays comfortably above the 20 day moving average.
There was a period of slight consolidation lately where buyers eventually broke price above the 0.340 range high on 27/10/16. Moreover, the bullish break was backed by increasing volume suggesting further upside next.
Expect price to head higher next to test the 0.360 resistance area.
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