Monday, February 22, 2016

Global Logistic: Resistance at 1.73 cleared as mentioned, more upside towards 1.80 now? price 1.755

Short term positive above 1.72...

Sent: Thursday, 18 February, 2016 12:17 PM
Subject: **************Global Logistic: Heading back towards key resistance where we may see some selling pressure again.... price 1.69
Global Logistic has been supported above the 1.60 psychological level for more than 3 weeks and today we have seen it stage a pretty good rebound back to 1.70 – 1.72 resistance which has resistance of for 3 weeks too. We may start to see some profit taking and selling as it approaches this levels. Mid to longer term trend still weak for now, but we can see some short term upside momentum on a move above 1.73 where we can expect a trade towards 1.80. Some indicators are pointing towards a reversal but more price action confirmation required. Either way, good to take some profit along the way for any long positions as we are going countertrend.

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