Sembcorp Ind after hitting the high of 3.08 on 9th June 2016 it had experienced a drastic pull back with a Long black candlestick to close at 2.95. This is generally not so healthy.
Today it had again continued to experience another drastic pull back and closed lower at 2.88. This is rather bearish.
With Dow future indicating -100 points + crude oil price has retreated lower to fall below $50 mark this may not bode well for oil and gas counter.
Short term wise looks like it may go down to re-test 2.83 then 2.80. Breaking down of 2.80 with high volume that may continue to see the price goes further down towards 2.70 with extension to 2.60.
(trade base on your own decision)
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