Consolidating before the breakout?Nice cup and handle or Bullish Pennant being formed. Wait for upside breakout.
Disclaimer: Not an advice to buy or sell.
Singapore
Continuation triangleSymmetrical triangle is a continuation pattern. Wait for breakout in either direction.
Disclaimer: Not an advice to buy or sell.
Straits Times Index (STI) Analysis 26 May 2020; Staying NeutralCurrently staying neutral for STI. It is trading below the range EQ of 2689.97 and has not been able to reclaim this. This is bearish, which means every bounce should be shorted.
However, it is trading above the Order Block (OB) EQ of 2517.52 – hanging by a thread. This is the critical point to look at: whether we reclaim this or lose this at monthly close.
When monthly closes in the next few days it will give us a clearer picture. There are 4 scenarios we need to contemplate:
1) (High Probability) Lose OB EQ of 2517.52 -> potential swing short. Take Profit (TP) 1 targeting the EQ of the OB below us at 2318.17.
2) (High Probability) Reclaim OB EQ of 2517.52 -> potential scalp long. Take Profit (TP) targeting the range EQ at 2689.97. Do not stay in this trade for too long. 1) Market structure has broken down on the high time-frame, 2) we are trading below range EQ, so this is a counter-trend move. Hop out of the trade if it is getting uncomfortable; don’t be too fixated on hitting the TP.
3) (Low Probability) Monthly close reclaims range EQ of 2689.97 -> Swing long position. TP1 targeting the EQ of the OB above range EQ at 2919.34.
4) (Very, very Low Probability) Monthly close sweeps range low of 1473.77. This is definitely a long term swing long. Doubt it will happen in the near future.
Bullish PennantPrice consolidating in a pennant after the bullish move. Wait for breakout of the Pennant.
Disclaimer: Not an advice to buy or sell.
USDSGD Bullish Forecast!
usdsgd broke above a resistance line of a triangle on a daily.
the breakout is considered to be confirmed and now we expect a bullish continuation to the next structure resistance: 1.43 level.
The best trade entry is always on a pullback.
good luck!
STI - Singapore - poised to deliver 15 to 25% during next 10daysSTI finished a primary degree contracting triangle pattern that should initiate a long path upward from here. It seems to be tracing a 5 wave move up that will form a minor wave 1 pattern. Currently we should be beginning a minute impulse wave 3, the strongest of the impulse waves that should deliver from 14 to 24% returns up to the next 10-15 days. Price-to-book ratio also confirms the pattern. Time to catch it ! FOLLOW SKYLINEPRO TO GET UPDATES.
C61U - CapitaLand Singapore - wait to short in wave 5C61U seems to have finished minuette wave 3 down. If this is the case, prices should go up to the level of subminuette 4 and after that there could be a good opportunity to short this prime office REIT from Singapore while it's on subminuette 5 down.. Keep tuned ! FOLLOW SKYLINEPRO TO GET UPDATES.
Maybank is interested to test The main Trendline @ RM6.5It could be the best price level to buy and to keep for a few years.
The economy is not collapsing yet,
just a little hiccup caused by a global pandemic
But if it breaks the Trendline then I'll recommend every investor to increase their Gold Reserves quickly.
STI - possible 150% gains in 3 to 5 yearsSTI finished cycle wave 4 and it is now tracing the initial stages of cycle wave V , which could offer up to 150% of gains during the next 3 to 5 years. This scenario should be reviewed if prices crosses down 2,180. FOLLOW SKYLINEPRO TO GET UPDATES.
C61U (Singapore REIT) - last leg of triangle before new lowsC61U is tracing minuette wave E of a contracting triangle that will complete minute wave 4. The most probable target is at 1.54. After this prices should fall to new lows during minute wave 5 down. FOLLOW SKYLINEPRO TO GET UPDATES.
K71U (Singapore REIT) - last leg before path to new lowsK71U is finishing minor wave 4 up, but there is still on more small leg up to complete it. When complete this prime office REIT price should trace a down path to below 0.79. If price move touches the 1.14 level this scenario should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES
USDSGD - upside move aheadUSDSGD seems to be tracing minor wave 3 up. If this scenario holds, price should reach 1.45 in up to a week. The odds of this scenario will increase if prices reach 1.432. In case prices crosses down 1.411 this analysis should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.
USDSGD could retrace to 1.444 to complete correctionABC zigzag is shaping here
The wave B could have been built and we are heading to the north in wave C
It can reach 61.8% Fib and 1.272x of A is also there at 1.444
USDSGD - odds to 5% gains aheadSingapore dollar is tracing a primary wave 5 up that should elevate its quotation to the most probable target of 1.5. In case prices go below 1.386 this scenario should be void. FOLLOW SKYLINEPRO TO GET UPDATES.
Indonesia Rupiah seen appreciate much faster than SGDIDR normally highly fluctuate currency . now they move up faster then others Asia currency
DBS - Back at key levelsCurrent DBS is supported with a weekly strong bullish trend that is heading up to test the key support/resistance level. If market actually breaks out on this level, stock price will go back to test $22.6 - $23 level easily.
Overall, It is expected to see price action to break the long-term trend with current economical issue.
Not to include fundamentals, if market breaks the trend;
Testing of $14 is expected before further downside of $13-$12.
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OCBC - Rising wedge!Consider it a Rising wedge or a flag/pennant (on longer timeframe). Both in my view are bearish formations in current context. Look out for the breakdown of the wedge. Target should be recent low atleast.
However, I also see a cup and handle formation, therefore, bets off if the recent high is taken out and goes above the wedge formation.
Disclaimer: Not a recommendation to buy or sell.
DBS Flag / PennantDBS is trading in the flag / pennant. Lookout for the break.
Disclaimer: Not an advice to buy/sell.
K71U - Singapore - 13% of gains aheadKeppel REIT a property owner of prime office buildings in Singapore seems to be tracing a minute wave c up that should push prices to 1.07, the most probable target. If prices go below 0.875 which is the low of minute wave b, this scenario should be void and chance are that minor wave 4 has already finished and wave 5 down is on the way. Keep tuned. Follow Skylinpro to receive updates.
K71U (Singapore) - critical junctureKeppel REIT, a prime office REIT from Singapore seems to have finished the minor for correction up. If it doesn't cross the 0.99 mark, the path ahead should be in direction to new lows. FOLLOW SKYLINEPRO TO GET UPDATES.
SGX Breaks out of the long term triangleSGX has broken out and has been very strong. While most stocks trading below 50% retracement levels from the previous highs, SGX has already taken out the previous high and now looks like headed higher.
Disclaimer: Not an advice to buy or sell.
