Something is happening in the markets, can you feel it?
Let’s see what’s cooking on the Singapore markets!
HMI is running well.
Let’s take a look at some interesting counters.
Some of these haven’t setup yet, so keep a watch for them when you do your scans.
Impulsive move up to here, good chance to break resistance with this momentum.
There is a brief retracement, good chance it has strength to continue.
It’s at a resistance level, can see quite clearly it held price down twice before.
2nd valid arrow, not triggered yet, watch for trigger above previous candle highs.
Edit: Already triggered on day of posting this article. Congratz on those who caught this!
Impulsive move higher breaking out of a long consolidation, currently in retracement, watch the 1.98 area, previous high of the range.
Price is still hovering here after the speculations were officially denied.
It went up on takeover speculation by China’s sovereign fund.
Very tempting setup because of the technicals, however the break up impulsive move was caused by rumours which have been denied.
If the rumours are truly proven false, the risk of a quick drop back down is very real.
So I would avoid this one just because of this risk.
There was an impulsive move which brought it out of the few months long consolidation.
It’s probably reacting to the possibility of higher oil prices with an OPEC agreement to cut production.
The real uptrend has not yet been formed, so still very new trend.
The OPEC agreement has yet to be solidified, they have tried and failed a few times over this year already, who knows if they will succeed in coming to an agreement this time.
So far only 2nd valid arrow. We are near the trigger price, can consider entry if we can still get the prices.