On Monday, SGX broke the critical support at $6.75 and closed at $6.68 with HIGH volume of 2.25 million shares traded.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Both RSI & MACD are bearish as RSI trend downwards.
Important Resistance of SGX: $6.75
Immediate Support of SGX: $6.62
Currently prices are supported by 100 days MA at $6.62.
Today SGX has broken its critical support at $6.75 with high selling pressure to affirm that the trend has now turned bearish.
Prices has been trending downwards forming a lower high and lower low since Feb 2012 which is a bearish signal as well.
We do not suggest to long now as SGX seems to be under selling pressure now. Watch for any …