CORRESPONDENCE COURSES
Singpost: Target hit, Retracing back down from 1.00 still, price 0.945
Author: Trading Impossible | Joey Choy
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Over the past 2 weeks, we have seen Singpost approaching the key 1.00 resistance level…
Some profit taking started and there was a possibility of sellers returning to push it lower..
Some downside targets were drawn then as the trend was pretty much still down in the mid to long down from trend indicators…
1ST target was at 0.95 first then the previous low at 0.88 – 0.90, see what I mean…
Over the past few days, we have breached the temp 0.95 – 0.96 support which was our first target..
Would want to be cautious of more short term weakness ahead…
2nd target may still be on tracked…
Some decent support seen at 0.94 for now but selling can continue if that gives way too…
