CSE Global: Prices are consolidating, getting ready for the next run within a longer term upward rebound. Even though prices remained below its moving averages, the fall from the January high appears corrective, suggesting that there is still one more upleg in the coming weeks if not days.
The momentum indicators are starting to reverse, turning upwards once more from oversold positions. A strong push past the S$0.86 levels would likely signal that the correction from January is over. Aggressive traders could buy now with a stop placed below the support band of $0.75-0.76. Expect prices to retest the January high of $0.98-1.05 once the $0.86 resistance is taken out.
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