Aug 1-5, TA for Noble Group

Aug 1-5, TA for Noble Group,

• Trend - Down
• Momentum - Approaching Overbought
• Resistance - 1.88 - Resisting by 20D MA
• Support - 1.73
• Candlestick - Bearish Harami
• Volume - Average

Noble is now at resistance level, as long as it doesn't have a big surge on Volume ->26-37millions shares traded. It will not break the resistance level, and you can't play "Breakout Strategy". If you want to SHORT, just be careful - STI doesn't correlate with DJI since last week. When you expect it to fall, it doesn't happen. My suggestion is - lookout for your big volume on your counter - if there isn't, means there won't have any interesting move.