Thursday, January 21, 2016

SingPost: a NEW recent low again..... towards 1.40?

Price 1.465…. trend still weak for now as it pulls lower down…..

Sent: Monday, January 18, 2016 1:10 PM
Subject: ************ SingPost: Selldown back to 1.50 support after temp rise.... cautions below 1.50 further.... price 1.500
Following up from previous SELL call, we have indeed seen a retracement back down to the 1.50 support level after a slight rebound with the bears wrestling back control again on a sell down today. Support at 1.50 is crucial and we have seen some selling below today with a low at 1.495 but more confirmations needed. Any firm throw down at 1.49 – 1.50 buyers can open the way to a lower consolidation to 1.44 then 1.40 as mentioned previously with trend still down in the short term. CLOSE below 1.50 not a good sign today too. Can increase cfd sell positions and lower buy stop loss to 1.515 on this move to ride the downside more.

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