The banks have been selling off due to a lower interest rate environment which now gives rise to the opportunity for some short or swing trade at smaller risk levels.
OCBC Bank hit into a long term trendline support as well as a med term horizontal support this morning and is now bouncing off these supports. I will be going long with a stop just below this morning's low of 9.35 and is looking to take partial profit at the gap close 10.20 or swing for higher with trailing stops.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Trade safe! Thank you.
OCBC Bank hit into a long term trendline support as well as a med term horizontal support this morning and is now bouncing off these supports. I will be going long with a stop just below this morning's low of 9.35 and is looking to take partial profit at the gap close 10.20 or swing for higher with trailing stops.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Trade safe! Thank you.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.