CWT

CWT: CIMB Has Technical Sell Call. House note that Prices appear to be edging upward slowly, likely in the process of forming a diagonal triangle. As prices are not yet at strong resistance levels, there is still room on the upside from here.

However, both its MACD and RSI suggest that the upward momentum is slowing down slightly. Hence, buyers should be extra cautious going forward. As the upside is likely capped by the strong resistance at RM1.10-1.15, would prefer to turn sellers near this strong resistance levels. A break below S$1.00 would likely signal that the downtrend has resumed. Support levels are at $0.95 and $0.89.