Golden Agri: CIMB has Technical Sell Call. Note that prices are now rebounding back to retest the resistance band of $0.685-0.715 following its breakdown back in early Aug. The MAs could also be a resistance to the bulls in the near term.
At the moment, the indicators are still strengthening slightly, hence there may be a tad more upside. However, the indicators would likely face their own resistance soon, as the long term trend has changed for the negative and house would prefer to unload on any rebounds towards the resistance levels. Prices are likely to test the support levels at $0.61 and $0.565.
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