Maybulk at the 61.8% Fibonacci Extension Level

Sunday, April 5, 2009

Maybulk Weekly Chart April 2009

Maybulk rebound when touching 123.6% Fibonacci level last year and continue to increase further as well as the volume traded recently. Current support seen at the RM2.53 and resistant at RM3.25. But RSI-14weeks already in overbought area which I think it will be more in selling mode for few weeks after this. If the price can exceed the current resistant, next level will be at RM3.50.


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