Commodity stocks selloff

NOBLE GROUP ($1.28) - Sharp selloff

-  On Sep 30, prices fell below dead cross

- Breakdown indicates target of $1.15

- Downtrend is likely to last for a few months

- Resistance is at $1.30

WILMAR INTERNATIONAL ($3.02) - Breaks support

- Relentless decline shows no sign of letting up

- Break below $3.14 indicates a target of $2.78

OLAM INTERNATIONAL($2.28) - Breaks neckline

- Quarterly momentum has been falling since March

- Price break indicates target of $2.08

- Resistance is at $2.38

MEWAH INTERNATINAL (38 cents) - Down to one-third of IPO price

- Recovery is unlikely in the near term

- Temporary bounce may materialize but a successful break above 50 day moving average is unlikely

- Beak below 37 cents would take prices to new low of 30 cents

FIRST RESOURCES ($1.98) - Testing crucial support

- Decline has decelerated sharply

- If quarterly momentum turns down again prices could break below $1.96 indicating target of $1.80

- Top of the sideway range is $2.07 providing ceiling for any rebound

GOLDEN AGRI-RESOURCES (50.5 cents) - Attempting base

- Prices are attempting to bottom

- Signs of breakout are absent, suggesting that base formation may continue

- Support has been established at 50 cents

- Break above 52 cents is needed to turn the chart pattern more positive but breakout appears remote in the near term.

(Source:  TheEdgeSingapore October 6 2014)