SG - Thai Beverage - Likely further correction after bearish break
Likely further correction after bearish break.
Key supports breached. Thai Beverage is likely to see more downside ahead after violating the lower boundary of its 1-year uptrend channel recently; this was followed by another bearish break of the $0.58 key support on heavy volume yesterday.
Indicator is bearish. The MACD has just initiated a sharp bearish crossover, suggesting that the downside momentum is building up.
Next key support at $0.50. The counter could possibly slip further towards the next key base at $0.50 (key trough) in the weeks ahead.
Immediate resistance at $0.58. Meanwhile, $0.58 is now the newly established support-turned-resistance.
The rupee was at 60.92/93 versus Friday’s close of 61.10/11. It fell to a record low of 61.21 on July 8. Agri commodity news
ReplyDeleteNaturally like your web-site however you need to test the spelling on several of your posts.
ReplyDeleteForex Signals