No let-up in decline for commodity counters

NOBLE GROUP (43 cents) - Testing support-breakdown level

-  Prices are hovering around end July low

-  Volume has started to expand as price moves below 43.5 cents

-  Breakdown will provide objective of 26.5 cents

GOLDEN AGRI-RESOURCES (30.5 cents) - Hovering around minor support

-  No clear signs that downtrend is at an end

-  If prices are able to hold at 30 cents, they may attempt to bounce towards 34 cents

-  Quarterly momentum suggests a breakdown is likely eventually with downside at 25 cents

OLAM INTERNATIONAL ($1.77) - Gains relative strength

-  Counter has gained tremendous relative strength against its sector

-  Counter remains entrenched beneath its 50 day moving average at $1.83

-  Support appears at $1.44 level

WILMAR INTERNATIONAL ($3.01) - Downtrend to persist

-  Prices are at a five year low

-  Psychological $3 level may provide momentary support

-  Break below $3 indicates a measuring objective of $2.68

EZION HOLDINGS (55 cents) - Indicators at new ultra-low

-  Selling remains heavy

-  For a rebound, volume needs to lighten up on black candle days

- Build up of oversold pressures shuld trigger an attempt at a rebound shortly

-  Resistance appears at 78 cents

KEPPEL CORP ($6.96) - Breaks below minor support

- Counter has broken twice tested support at $7.34 indicating an objective of $6.70

-  There are signs that selling is abating

(Source:  TheEdgeSingapore, August 24 2015)