GGS 25.10.2007

GGS has after being in a negative trend stabilized and started to rise. The long term trend is still negative and will possibly be so for some more time. The level for the resistance line in the long term negative trend that will have to be passed is around 2.20 - 2.30 NOK at the moment. In the short term a rising trend is starting to form as we can see from the rising ADX levels. The price curve is moving in a newly developed trend channel where there is support at about 1.70 NOK and resistance at about 1.90 NOK at the moment. The price trend channel correspond nicely with the RSI trend channel and we can in the days to come expect a price movement within this channel. If on the other hand the resistance- and support- levels are broken act according to your trading plans.