On Tuesday, SGX re-test the resistance at $7.08 and closed at $7.02 with LOW volume of 1.30 million shares traded.

Both RSI & MACD are bullish though RSI in overbought region.

Important Resistance of SGX: $7.08

Immediate Support of SGX: $6.75

Currently prices are well above the 20/50/100/200 days MA.

Today SGX has re-tested the resistance at $7.08 with low buying pressure and closed with a white candle stick with long lower sticker similar to a “hanging man” This is a bearish signal which affirms to the weakness of the rally.

The resistance at $7.08 is expected to be strong.

We would not suggest to buy on the overbought market now especially the resistance is strong.

Important news

Thai billionaire Charoen Sirivadhanabhakdi extended again the deadline for his US$7.2 billion offer for Singapore’s Fraser & Neave Ltd. (F99.SG), which has been ...