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, June 8, 2008

SGX 060608

Ever since SGX broke the 8.95 support (red --) on 20 may, it has been on a downtrend, and SGX also broke the 8.24 support (green --) on 26 may. Afterwhich, SGX has tested the critical 7.94 support (blue ...) 3 times.

If the 7.94 support breaks, we could see SGX testing the 7.64 support (blue --), then the next support would be at the 7.40 support (green ...). If SGX breaks the 7.40 support, which is also near the long term downtrend support (low red), we could see a repeat of the downtrend in march.

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For monday :

Support @ 7.94 (blue ...), 7.82 (low pink), 7.64 (blue --), 7.50 (low red), 7.40 (green ...)
Resistance @ 8.20 (low blue, mid pink), 8.24 (green --), 8.31 (upp red), 8.43 (upp blue)

Hope you find my analysis helpful. Thank you !!
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