22 September 2016
F34 Wilmar International Stock Analysis
ABCD chart pattern is a very powerful measure on where may price ended. Picture worth a thousand words, my analysis, wait for the price to pullback test the brown line before go long.
The price action is bearish generally. The trend is continued to form the lower low and lower high.
Pay attention to moving average. We said earlier the price action is bearish, as the price action cross below MAs and stay below. Next we see all MAs are coming together. What’s next? Ranging, then spike up or spike down. All are possible.
22 September 2016 Wilmar International Limited Weekly Chart
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