Market has been rising due to news like trade saga and future interest rate cut .
US indexes has been approaching the dangerous zone. I think is good to be extra cautious!
We have a 10 good years of bull market and is about time for the indexes to be corrected .
The 3 bank counters has managed to rebound from the oversold territory and I think is always a good to lock in profit.
I think not much room to go higher unless trigger by some positive news.
UOb latest chart
- 19th June 2019
Chart wise, the three bank counter are showing a reversal patterns as all 3 counters are having quite similar chart patterns.
UOb chart patterns standout amongst the other two counters and close slightly near the overhead resistance at 26.15.
TA wise,looks Bullish !
It is usually quite normal for price not to be able to Pierce through the resistance . With this bullish momentum, I think it may continue to rise further!
Dbs has a very nice Gap up yesterday and close slightly higher at 25.43. It has managed to take out the recent high of 25.40 , looks positive!
Short term wise, I think it may rise higher to test 26.00 then 26.50 - 26.95.
If it is able to cross over 11.20 smoothly plus good volume then high chance it may rise higher to retest 11.50 again!
Not a call to buy or sell.
Pls dyodd.
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