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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About the author

Profile photo of Jeremy Ng

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.

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