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 30, 2008

SGX 280308

SGX was trading sideways after breaking out of the long term downtrend resistance (red --). However, SGX is still trading within the uptrend channel (blue), and it also tested the downtrend resistance (upp pink).

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From the chart, you can see that SGX is getting closer and closer to the long term uptrend resistance (green). If SGX can continue to trade within the uptrend channel (blue),, and open above the downtrend resistance (upp pink) on monday, there is a high chance SGX can break the downtrend resistance (green). Of course, there must be volume.

For monday :

Support @ 7.566 (low blue, upp red), 6.736 (low red), 6.00 (low pink), 5.885 (red --)
Resistance @ 7.81 (upp pink), 8.275 (green), 8.60 (upp blue)

Good Luck !!
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