Seems to be holding above the 0.800 new support after the breakout caught last week….:) now at 0.84
Sent: Monday, March 14, 2016 9:12 AM
Subject: ************ Genting Sing: A breakout above 0.800 can be a short term positive... price 0.81
Subject: ************ Genting Sing: A breakout above 0.800 can be a short term positive... price 0.81
As mentioned in previous note, we have indeed seen a breakout above the 0.800 psychological resistance level where we can expect a trade upwards towards 0.84 then 0.88. 20 day MA has just crossed above the 100 day MA on this price action which can signal a short term reversal upwards. As long as 0.800 holds as the immediate support now, we are short term bullish with stop loss at 0.785 possible. Strong bullish candle spotted last Friday with a clear move today, MACD also pulling further away from zero mark a good sign of momentum continuation.
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