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.

Sunday, March 16, 2008

SGX 140308

There wasn't any follow through after SGX broke the 2 long term downtrend resistances (red, upp red --) on 12 mar.

Photobucket (Please note that the volume is wrongly indicated)

Subsequently, SGX traded below these resistances, and even broke the downtrend support (low pink) on 13 mar. SGX even opened and closed just below the downtrend support (low pink) today. Only positive note was it seems to have found some support about the 6.62 - 6.68 region.

If SGX continues to trade within this downtrend channel (red --), it might test the 6.00 level soon.

For monday :

Support @ 6.796 (low pink), 6.247 (mid red --), 5.795 (low red --)
Resistance @ 6.91 (red), 7.05 (upp red --), 7.716 (upp pink)

Good Luck !!
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