Golden Agri (technical)

Golden Agri: Charts tip the outlook for Golden Agri's is bearish short-term, with the price capped by negatively placed moving averages. Tuesday's price surge found resistance at the 20-day MA, followed by a sharp price rejection. Amid the bearish tone, the lackluster vol and momentum readings seem to suggest that instead of extending losses, price is likely to consolidate for the coming sessions. If so, support is at $0.574 and resistance at $0.59, it says. Advises staying on the sidelines to await further clarity from technical indicators.