Singtel (technical)

Singtel: Traded in steep and narrow upward trend channel since beginning of the year. Having corrected from the upper trend channel it may be in the consolidation phase. Larger trend shows prices may be in the third subwave of the second impulsive wave. If so, we are looking to making higher highs above $4.30 in the mid-term, after the short-term correction expected in fourth subwave, that should be firmly supported at $4.00