Technical Analysis: JSH USD November 3, 2016 28

JSH USD – Daily timeframe (Update from 28 Sept 16)


Current Sentiment: Bearish

Support 1: 34.25                   Resistance 1: 36.00

Support 2: 33.39                   Resistance 2: 36.50

Price marched along the uptrend accordingly after the last update and managed to break new highs.

However, after testing the 36.00 psychological resistance area, price was heavily rejected on 02/11/16, resulting in the appearance of a shooting star.

With this bearish price action, expect price to enter into a correction phase next to test 34.25 support area.

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About the author

Profile photo of Jeremy Ng

Jeremy Ng
Research Analyst
Phillip Securities Research Pte Ltd

Jeremy specialises in Technical Analysis and has 10 years of experience in studying price action. His areas of expertise include intermarket analysis on the equities, currencies, commodities and bonds market.

He is also a regular columnist on The Business Times - every Monday ChartPoint column.

He graduated with a Bachelor of Science in Banking and Finance from University of London.

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