Finally on 24 apr, SGX opened above the uptrend resistance (green) again. But this time, it also broke another uptrend resistance (mid blue) and also tested the 8.95 resistance level (red --), before closing above the uptrend resistance now turned support (mid blue).
You can see from the huge volume done (grey boxes on the left of the chart) for the 8.75 - 8.83 region that this would be a good support for SGX. That's why today, SGX touched the 8.83 support before recovering to close above the 8.95 resistance level (red --). SGX did not even touch the uptrend support (mid blue) today.
Whether SGX can open above the 8.95 resistance (red --) on monday remains to be seen as the volume today was much lesser compared to thursday (9.6m vs 15.7m). There's also quite a chunk done at the 8.95 - 9.08 region so this could be quite a resistance for SGX to overcome.
However, if SGX can open above the 8.95 resistance level (red --) and break the uptrend resistance (upp blue) with volume, the next resistance for SGX could be around the 9.75 level.
If SGX fails to hold on to its uptrend support (mid blue), we might see it consolidating around the uptrend support (green).
For monday :
Support @ 8.97 (upp pink), 8.95 (upp red, red --), 8.88 (mid blue), 8.60 (low blue), 8.51 (low pink), 8.38 (green)
Resistance @ 9.14 (upp blue), 9.33 (blue ....), 9.45
Good Luck !!
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