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, May 11, 2008

SGX 090508

After failing to break the 9.60 neckline (pink --) thrice, SGX weakened tremendously and has now broken the uptrend support (low blue), as well as the 8.95 neckline (red --).

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SGX went on to test the long term downtrend support (upp pink) today, but managed to close right on the trendline.

If SGX breaks downtrend support (upp pink), we could see it testing the 8.24 support (green --).

Otherwise, next week could see SGX trading between the 8.95 neckline (red --) and the downtrend support (upp pink).

For monday :

Support @ 8.68 (upp pink), 8.24 (low pink, green --), 8.12 (low red)
Resistance @ 8.95 (red --), 9.08 (low blue), 9.27 (upp blue), 9.45 (upp red), 9.60 (pink --)

Good Luck !!
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