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Singapore Exchange (S68) : Bearish signals ahead.

 

SGX Ichimoku chart continues to show bearish sentiments.

1. Bearish Tenkan sen – Kijun sen cross beneath the kumo sighted.

2. Thick kumo resistance ahead.

3. Support level is at around $7.24.

However, with the Tenkan sen and Kijun sen both showing bearish strengths, it is likely that $7.24 will break and we may see it test support at $6.92 and $6.58

If $6.58 does not hold, the target is around $5.76 or lower; back to 2009 levels.

By iam802

Trend trading with Ichimoku