Following up from previous blog post last month when Starhub was at 2.14 >>> http://singaporetradinginsights.blogspot.com/2018/05/starhub-more-selling-pressure-playing.html
We were expecting more weakness towards the 2.00 support level and more selling if that gave way too…
Over the past 2 weeks, indeed we have seen this key support broken and more selling came back…
See below targets to the downside that were reiterated again recently…
We are still seeing selling with a new low today as well as it heads towards our 2nd target at 1.80..…
May see some short covering near 1.80… and probably some technical rebound given the heavy sell down over the past week.
But would not not rule out more weakness on more specific bearish price actions below 1.80…
System had a 1ET Bearish entry signal recently with no exits…….
See what I mean below..
Looks like sellers are not ready to let go yet…
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