Disclaimer

Disclaimer:-Please note that all such analysis is provided by way of information only. All of the information was and should be taken as having been prepared for the purpose of reference only and that none were made with regard to any specific investment objective, financial situation or the needs of any particular person who may receive the analysis. Any recommendation or advice that may be expressed in or inferred from such analysis therefore does not take into account and may not be suitable for your investment objective.

Thursday, January 17, 2008

SGX 160108

SGX failed to find support on the neckline (blue - - -) after completing the Head and Shoulders (H&S) formation on 14 jan.

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I've added a parallel downtrend (red) which joins the lows of 4 oct, 20 nov and 23 nov. From the chart, you can also see that SGX traded below this downtrend support (low red) today (16 jan).

It will be awhile before we can see SGX testing the 11.00 resistance.

For 17 jan :

Support @ 9.01 (upp pink - - -), 8.39 (low pink - - -)
Resistance @ 9.557 (low red), 10.358 (low pink), 11.00 (neckline)

Good Luck !!
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