Chart Source: Poemsview 30th May 2018
Sembcorp Industries part of the STI component stock, took a tumble on Monday as oil prices took the biggest hit last Friday night.
As Sembcorp Industries is the parent company of Sembcorp Marine so a drop in oil price would have some effect on Sembcorp Industries too.
It closed below its psychological support of $3 which is not a good sign. The moving averages are also sloping down and it’s below them too.
We might see further downside in the coming days to weeks if oil continues to weaken.
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