Chart Supply: Poemsview 14th March 2019
SGX or Singapore Trade as some could name it took a heavy beating over the previous week down 10% for the reason that excessive of $8.05.
Information got here out that the Hong Kong inventory alternate would begin buying and selling derivatives contracts based mostly on Chinese language-listed shares pose a brand new aggressive risk to SGX.
Since then SGX gave up 2 months value of positive aspects in simply 5 buying and selling days!
Now could be the promoting over? Is the promoting overdone? Is a rebound in sight? Right here are some things we’re searching for
- For assist to carry at$7.20 if not the subsequent stage at $7.10 space.
- For the amount to begin reducing may imply that promoting is slowing down.
- For the candlestick to be smaller and never such an extended vary.
- For SGX to regain its maintain on the 200ma and even the uptrend line which it has damaged down from
Preserving an in depth eye on SGX for the subsequent few days.
Is SGX in your watchlist?
What’s your commerce plan for SGX like?
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