Over the past 2 months, we have started to see some weakness in Genting Sing with it breaking below the 1.05 support…
Short term trend indicators were also starting to turn lower after it hit a recent high at 1.15..
Seems like buyers were losing strength and not able to take prices higher..
Coupled with a weaker market in general, some downside targets were drawn…
With our first target hit at 0.95 last month..
We started to see some consolidation above it but there was still a potential break down of this support…
Finally, last week, some bearish price actions was spotted and downside targets were revised lower…
Towards 0.85 next… Downtrend still intact it seems,
We have broken the psychological 0.90 level over the past few days and seems like targets still on tracked…
Would likely see some buyers coming back near 0.85… hope this level holds.. if not, more weakness not ruled out..
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