Technical Pulse: Keppel T&T Limited December 5, 2016 37

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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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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