Food Empire Ltd – Daily timeframe (Update from 12 April 17)
Current Sentiment: Bullish
Support 1: 0.535 Resistance 1: 0.640
Support 2: 0.485 Resistance 2: 0.695
Price is currently weakening into a correction phase with the 0.640 resistance area keeping a lid on price.
However, the uptrend remains intact as the 0.535 resistance turned support area is remains valid. Watch the 0.535 support area closely as the break below it would greatly shift the sentiment to the downside.
On the other hand, if the 0.535 support area holds, watch for bullish close back above the pullback and 20/60 day moving average to end the current correction.
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