If it breaks below the S$4.80 support level, sentiment may turn bearish over the immediate term. Next support is much weaker at S$4.80, S$4.65 and S$4.41.
Technical indicators are showing signs of exhaustion. MACD has confirmed its dead cross and stayed negative while RSI is still flat.
Sell into strength towards the S$5.15 and S$5.48 resistance levels. Unless it can cut above these resistances to reverse the short-term bearish trend, any intermittent rebound may not be sustainable.
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