Preferred Scenario: As long as it stays above 1.130, and eventually break above 1.165 – 1.175, would see 1.18 – 1.21 (gap resistance), and 1.235 in extension.
Alternative Scenario: A pullback to 1.07 – 1.09 may offers a relative better risk-reward ratio. At this stage, it is premature to conclude that a Lower Highs and Lower Lows in the making.
Comments: Look out for (Bearish) MACD crossover. Although it is not shown on the chart, there is a making of (Bullish) MACD crossover. A possibility of divergence view between daily and weekly MACD chart? Its 20-days and 50-days moving average are 1.128 and 1.126 respectively. Bollinger Bandwidth appears to be narrowing…a possibility of breakout soon?
DJ MARKET TALK: Noble Undervalued Vs Singapore Peers -DBS Vickers (2012/06/12 13:43PM)
0543 GMT [Dow Jones] STOCK CALL: Noble (N21.SG) is undervalued …