Gold - mid term target US$835

Likely to see a mid term support around US$835, I think.
For mini Gold June contract, add $1.50-$2 more. Thus, about US$837.

CapitaRetail China - $0.825?

Following property counters in China run-up and Yanlord's surge, CapitaRChina could see $0.825 (where the short and mid term uptrendlines + natural horizontal resistant meet) in the coming days, I think.

Yanlord - $1.32?

Super surge on 27th March 09, but pullback due to profit taking.
Mid term and short term trend lines all pointing to $1.32.
Likely to see resistant at $1.25 before this target of $1.32..

Noble -false breakout?

Noble broke $1.26 and hit $1.31, but closed at $1.22 (below high volume of $1.25) on 27th March 2009.
Is it a false breakout or due to profit-taking?
We have to see how it performs in the next few days.
Undeniably, Noble is on short and mid term uptrends.

Chartered Semiconductor

First day breakout on 27 March 09.
First support at $0.125.
Likely to see $0.19 for this bounce.
First resistant at $0.15.

Straits Asia - expect weakness ahead

This could be messy to some of you, but I am trying to check if the trendlines are creditable.
I started by drawing the downtrend lines
Surprisingly, most of the highs and lows hit these lines.
Interstingly, when I zoom out and extend the lines, they are the long term downtrend lines too.
Usually, I do the reverse first.
Conclusion - these trendlines are creditable.

The midterm trendlines showed the Straits asia is bouncing within this range.
On 25th Feb 2009, we saw exceptional high volume, with 12m done at $0.825.
On 26th Feb 2009, it went higher and turned down on 27th Feb 2009 - which is a shortterm breakdown.
If there's no more good news to push it up, we are likely to see force selling on 4th March 2009.

Likely target is $0.77, where most of the trendlines meet.
If the force selling is fierce, my next targets are $0.755 and $0.735.
Monday resistance at $0.825.
Supports at $0.795, $0.755 and $0.735

Venture - watch for the turn

Long term picture.


Venture has been up for 6 consecutive days, despite Dow's big and small falls recently
This is very bullish, could be due to better-than-expected result and short covering.
However, yesterday was the first down bar, but still within the uptrend channel.
I think it could have hit the resistant and posied to turn down.
I will watch for the break.
If next Mon is an outside down bar, that could be the first signal.
If it breaks $4.82, it could accelerate to $4.42
Stronger support at $4.25 and $4.03.

SembMarine

Long term picture.

Good result + Doji Star.
Result-play.
Watch it tomorrow.
Big volume at $1.48 and $1.55.
Trend line resistant at $1.42, $1.53 and $1.59 (long term downtrend resistant).

Dow Jones - big flush expected

Too early to long.
Wait for the turn.
Likely to have a big flush towards 6500 before a strong rebound.
Best is wait for the turn - lowest risk.

Hang Seng - still bearish

China XLX - up or down?

Fourth time testing the uptrend support.
If this breaks, that's the end of 4 months uptrend.

Epure - first breakdown

I think we should see $0.25 and $0.235 if $0.28 support is broken.

Dow Jones - very near supports

Likely to see a short term bottom soon.

Gold - next target

After breaking US$1000 and hit US$1006 high yesterday, I think we are likely to see Gold to hit US$1030.80 soon.

Hang Seng - short term outlook

Big picture. - long term downtrend.


Short term outlook.
20th Feb 09:-
Support - 12752
First resistant - 13174
Second resistant - 13400
Let's see if this is the correct trend.

ST Engineering - hitting resistant soon

$2.40 should be a strong resistant for ST Engineering tomorrow.
Downtrend resistant meets natural resistant.

Hang Seng 5 minute breakdown

Noble - could be turning up

Noble hit support of $0.965 and could have turned up.
Need one more confirmation - red channel.
Mon (19 Jan 09) trading range is $1.01-$1.05. ($1.01 is the big volume on 16 Jan 09. Looks creditable)
If it can closed above $1.05, I think we can see for a short term uptrend.
My target is $1.14.
Given the volatility of Noble, it may hit $1.17 again.
Got to cross $1.09 before this.

Straits Asia - next target $0.84.

Finally broke $0.89 support and closed below it.
High chance of hitting and supported at $0.84 tomorrow (14 jan 09).
High volume + Short term downtrend support + mid-term uptrend support.
If this doesn't hold, next is $0.815. Below that, it is mid term uptrend breakdown.

Tomorrow 1st resistant at $0.92, next is $0.935 - $0.94.

Noble - first day broken down

First day mid term uptrend breakdown.
Likely to hit on 14 Jan 09.
1st support $0.965. (short term downtrend support + big volume support + natural support)
2nd support $0.935 (short term downtrend support + big volume support + natural support)
Sure short into strength counter.

Crude Oil was trading -US$0.925 at 5:05pm.
At time of post, Crude Oil is up US$1.20.
Difference of US$2.125.
If this stays (US$38.80), commodity counters should open higher than today's closing price, tomorrow (14 Jan 09)
This means that we should see Noble trading as high as $1.06-$1.07 (top of day trading range), if Dow closes flat or positive tonight.

Happy Trading!