Tuesday, September 5, 2017

Food Empire: Some negative price action seen yesterday, selling continuing today as well.... Price 0.575

After trying to stay above 0.62 for more than a week, we have seen a sell down below this level yesterday with some negative price action….

….with even the 0.60 support giving way too.

A note was sent with a chart drawn and some downside targets….

For illustration purpose only

As mentioned in note yesterday, more downside likely towards 0.53 – 0.54 where we can see some short covering again.

Seems like sellers are back again today to take it to a new recent low…

Indicators looking weak for now, especially below 0.600, cautious long.

Will be looking to see if there would be any reversal actions to ride the rebound back up when it comes…

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