Wilmar: Reversal still ongoing as per target? Price 3.86.

by michaelg July 18, 2019

Author: Trading Impossible | Joey Choy
Go to Source

Just at the beginning of the month, we started to see some bullish actions in Wilmar..

It was attempting to break the 3.70 critical resistance that it has failed to cross above in April..

In fact, it has been trading below this level for 2 years since May 2017..

And finally, sellers gave way for more upside to carry on.. with trend indicators also pointing towards more strength in the short term,

Hence, some upside targets were drawn, toward the 4.00 psychological level as seen below..

Over the past few days, we have managed to see the 3.80 temp resistance level giving way too…

Targets were reiterated again with support now being at 3.70..

This was the original resistance it had broken up from as mentioned previously…

Today, looks like we are finding a new high and attempting to push towards the 4.00..

Can start to see some profit taking near there imo given the rise, however, more upside not ruled out on more bullish price actions…

Watching…

Quite a good recovery it has staged since June last month…