Follow up on the previous analysis on “Singapore Airlines: Crash Landing Now!”, looks like SIA is rebounding from the 61.8% Fibonacci Retracement Support Level. However, the SIA plane is not fully stopped yet.

Things to watch out for the bearish trend to stop:

• The current rebound from 61.8% Fibonacci Support will test the 20D MA resistance at about $14.00. Need to see whether SIA can clear this 20D MA resistance and stay above this level.
• If SIA is unable to clear this 20D MA resistance, it is expected SIA to test the 61.8% Fibonacci Support again at about $13.20.  If this support is broken, the bearish trend will continue for Singapore Airlines.

Also note that the current oil price of US$104 per barrel have significant impacts on SIA future earnings.