After recent rallied with the strength in plantation stocks and banking industries served support, market somehow touched on the resistance level at 1600-1620.
Profit taking activities likely to step in, with nearest support level at 1550-1565. MACD showed divergence too. Who holding long position please take note, as market may have small correction after recent surged.
-market likely to move lower if market stays below 1605; target market range 1580-1605 -support level: S1 1600 S2 1594 S3 1588 -resistance level: R1 1610 R2 1616 R3 1622 -yesterday daily settlement: 1605.5 mid: 1605.8 strategy 1: Short if stay below 1600 tg stop 1606 tg exit 1582-1594 strategy 2: Long if stay above 1615 tg stop 1609 tg exit 1621-1633