KTB : If 18.30 fails to hold, a swift dip to 16.80-17.00 may well follow,.
May 22, 2011 Leave a comment
KTB has support at 18.60-18.80, 18.00 then 17.30 and 17.00 down to 16.80. If 18.80 holds this week then a bounce to 19.40 or so may be seen again, but a failure at first support will open up 18 for a quick retest we fear.
It may take a number of weeks, but a retracement to much nearer 17 looks likely, and on a MT basis, if things go badly on the political front the bank may need to come off to nearer 14 during the 2H of 2011