Commodity plays recover

OLAM INTERNATIONAL ($2.34) - Rebound underway

- Important to watch $2.12 mark. Acts as established support

- Resistance is at $2.40

WILMAR INTERNATIONAL ($5.53) - Approaching all-time high

- Strongest stock in the commodities sector

- Support is at $5

FIRST RESOURCES (68 cents) - Breakout level at 70 cents

- Resistance at 70 cents

- A successful breakout indicates a target of 81 cents

INDOFOOD AGRI RESOURCES ($1.22) - Challenging resistance

- Prices attempted a rally, but the move is likely to be stopped by its 50 day moving average at $1.25

- An eventual break would provide the impetus for a test of $1.40

GOLDEN AGRI-RESOURCES (35 cents) - Breaching resistance

- Prices are breaking above immediate resistance at 33.5 cents

- If prices can sustain the break above the 100 day moving average, a stronger rally could follow with prices testing 42 cents

STRAITS ASIA RESOURCES ($1.76) - Attempting recovery

- To maintain its uptrend, prices need to move above $1.81 as soon as possible

- Volume has risen on the up-tic but a significant increase is required for a breakout

(Source: TheEdgeSingapore July 20, 2009)