Technical Pulse: Interra Resource Ltd February 1, 2017 18

Interra Resource Ltd  – Daily timeframe  (Update from 10 June 16)


Current Sentiment: Bullish

Support 1: 0.077                   Resistance 1: 0.088

Support 2: 0.072                   Resistance 2: 0.093

Price has turned into an uptrend recently since August 2016 as the 20 day moving average crossed above the 60 day moving average on 06/10/16. Thereafter, price has been kept in the uptrend firmly by the 20 and 60 day moving average repeatedly holding price up. The 31/01/17 Bullish Engulfing bar rejection off the 20 and 60 day moving average succeeded in breaking price above the pullback line and 0.080 immediate range high suggests the resumption of the uptrend next.

Expect price to trend higher next to test the 0.088 resistance area followed by 0.093.

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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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