Following up from previous blog post last month when OUE was trading at 1.71…. >> http://singaporetradinginsights.blogspot.com/2018/05/oue-heading-towards-target-still-price.html
It was mentioned that more downside was likely on a further breakdown below 1.70…
True enough, we have seen the breakdown and the selling accelerated… fast….
We have actually revised our target lower over the past 2 weeks….. see what was sent…
We have already hit our 1st target over the past few days and seems like the 2nd target is still on track….
See where we are below now…
Trend indicators are still looking weak, pointing to more selling…
Selling may still continue as drawn.... probably to 1.45 next?
To add, it was also mentioned that we had a bearish signal on the PTI system…
Let’s take a look at the system to see what it says…
We had a 1et Bearish entry signal on 15 May 2018… and then the heavy selling started….
Cautious long for now… as there are still no exits…
See what I mean below….
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