There wasn't any follow through after SGX broke the 2 long term downtrend resistances (red, upp red --) on 12 mar.
(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 !!
Sunday, March 16, 2008
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