Technical Pulse: CWG International Ltd May 4, 2017 43
CWG Intl Ltd – Daily timeframe (Update from 31 March 17)
Current Sentiment: Bullish
Support 1: 0.172 Resistance 1: 0.193
Support 2: 0.168 Resistance 2: 0.200
Price has been trending up perfectly in line with 20 and 60 day moving average since June 2016. The uptrend remains intact as price once again found a base off the 20 and 60 day moving average.
Expect the current bullish bounce off the 20 and 60 day moving average to boost price further within the uptrend to test retest the 0.193 resistance area followed by 0.200.
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Jeremy Ng
Research Analyst
Phillip Securities Research Pte Ltd
Jeremy specialises in Technical Analysis and has 10 years of experience in studying price action. His areas of expertise include intermarket analysis on the equities, currencies, commodities and bonds market.
He is also a regular columnist on The Business Times - every Monday ChartPoint column.
He graduated with a Bachelor of Science in Banking and Finance from University of London.