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.


Straits Times Index (STI) : Critical support coming up


Critical support levels coming up for STI.

They are 3103, 2972, 2935.


Straits Times Index (STI): Resistance Ahead


Despite breaking out of the kumo, STI may be hitting resistance soon.

1. Resistance level from Chikou Span is around 3201.65

2. There is a high possibility that it will retrace.with support at 3124 and 3063.

Target timeframe : 2 months for retracement.


Singapore election is just around the corner. Take care.