KGI : Major support in and around the 1.5 mark.
September 25, 2011 Leave a comment
On the monthly chart KGI has good support at and near 1.5. There is short term support by 1.7, and further levels at 1.37-1.40. Prospects do not good right now in line with the sector, with any early week bounce going to find initial resistance at just 1.88 to 1.91. Any chance to close the gap t 1.98 will need a strong rally in western markets, but overall downside risks are high here and will not be changed much by a dead cat bounce in coming hours of trade.