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Golden Agriculture: 68c support.

Saturday, July 9, 2011

In my last blog post, I said that chances of a breakdown in price are higher. I have been proven wrong by Mr. Market, once again demonstrating the risky business of guessing Mr. Market's future movements.

Golden Agriculture's share price touched a high of 71.5c on very high volume before closing at 70.5c in the last session.

People ask me if the price could go higher? Well, only Mr. Market knows. What we know is that 68c is now support and 71.5c remains a significant resistance. Overcoming 71.5c could see price going higher and we could even see the gap closed at 76c. With such huge volume in the last session, chances are fair that this could happen. A pull back should find support at 68c.

Good luck to us all.


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