Keppel T&T Ltd – Weekly timeframe
Current Sentiment: Bullish
Support 1: 1.615 Resistance 1: 1.715
Support 2: 1.570 Resistance 2: 1.740
The long term uptrend since May 2016 is still intact as price was firmly held up by the confluence of 50% Fibonacci Retracement level and 1.615 support area.
Price entered in to correction recently after testing the 1.900 resistance area but the current price action signals a potential reversal back into the uptrend. The bullish rejection off the support area resulted in price forming a hammer on the week ended 02/12/16 suggests further upside next.
Expect price to rise next to test the 1.715 resistance area followed by 1.740.
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