After a period of consolidation at $24.30 level, DBS has moved further in line with the bullish sentiment. Price has closed above both the 50D and 200D MA which spells potential further up-move ahead. It is currently sitting at prior support turned resistance zone. Should price stay above $25.19, we can see the next target at $26.06 before the next level of resistance at $29. A break below $24.30 will invalidate our analysis.
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Comment:
As per our analysis, DBS has hit the first target level at $26.06. Strong bull expecting DBS to climb higher to next resistance zone at $29 but it will not be as straight forward unless coupled with good data coming from the US and China trade deal.