Singapore O&G Ltd – Daily timeframe (Update from 7 April 17)
Current Sentiment: Bullish
Support 1: 1.350 Resistance 1: 1.440
Support 2: 1.280 Resistance 2: 1.500
Strong uptrend here with the 20 and 60 day moving average repeatedly propelling price higher. Lately, price continued to break new record high showing relentless strength.
Continue to buy the dips in conjunction with bullish price action off the 20 and 60 day moving average if the correction appears.
Note: Our current fundamental view on Singapore O&G is a Buy rating with a fair value of $1.570.
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