Long with good conviction (++) Buy on dips above 3020 Stop Loss: 2960 Take Profit: 3350
Weekly Price reacted above 2960. RSI also reacted above support where in the past price has bounced before. RSI also surpassed descending channel resistance.
Daily Price and RSI shows a weak bullish divergence RSI also testing 50% level. 2960.00 is the key support level to hold. It has also been found as a fractal level multiple times. If market were to break below, we would see a much deeper drop towards the 2522 region. A drop towards the 2522 region is set to put Singapore's market in a recession.
Overall a good conviction trade due to indicator breakout and price reacting on key support level. Risk/reward ratio is beautiful too!