UMS Ltd – Daily timeframe (Update from 2 March 17)
Current Sentiment: Bullish
Support 1: 0.860 Resistance 1: 0.950
Support 2: 0.780 Resistance 2: 1.000
Price broke out into another leg higher within the uptrend with great momentum after the last update. The uptrend remains sturdy even after the recent correction off the 0.915 resistance area as the move was promptly halted off the 20 day moving average.
Since then, price continued to trail behind the 20 day moving average suggesting the strength within the uptrend. Price should continue to rise to test the 1.000 resistance area after the increasing volume bullish break above the 0.915 resistance area on 28/04/17.
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