Tuesday, February 2, 2016

UOB: Selling pressure seen as it approach 18.30 resistance AS MENTIONED yesterday morning!!!

Now at 17.47, indeed a sell down seen again as market weakens today again….. Did you have CFD SELL positions ready?

Sent: Monday, February 01, 2016 10:22 AM
Subject: ************** UOB: Selling pressure seen as it approach 18.30 resistance.... short term bearish below still.... price 18.06
Over the past 2 weeks, we have seen UOB rebounded from its temp support at 17.00 when world markets recovered slightly. It has now traded back above the 18.00 psychological resistance but as soon as it approached the 18.30 supported turned resistance, we are seeing sellers coming back again. High today was 18.26 before some profit taking seen. As trend is still negative in the mid to long term with moving average pointing lower, would be good to take some profit near 18.30. CFD SELL positions to ride the downside for any trade back down to 18.00 then 17.00 can be used, but with buy stop loss above 18.40.

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