United Overseas bank looking bullish on daily charts and also it were trading in a V shape recovery, UOB closed @ 18.60 levels after made a high of 18.86 with gain of 0.10 points up by 0.54%.
On the Daily graph UOB facing Resistance @ its 200 day MA level i.e. 18.849 and also its 50 day MA level of 18.92. UOB looking good long above its 18.922 level because its shorter day (50) MA level crossed its longer day (200) MA level
which is bullish signal, so one can take long position above 18.922 for target of 19.20-19.40-19.60.
UOB having support @ 18.50 levels and if it will not sustain this level 18.25-18.00 will be the major support for UOB.
Technical Indicator MACD is looking bullish as it can give its bullish cross over if UOB price sustains higher levels and RSI also recovers from lower level and trading near to centreline of 50 @ 48.34.
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