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Singapore Exchange (SGX) broke $6.00 psychological support and looks like breaking down from a Descending Triangle. Price target for the breakdown is $5.225. SGX is still on down trend channel
Original Post from My Stocks Investing Journey.
SGX is still trading in a down trend channel and have reached the 38.2% Fibonacci Support. If this support is broken, SGX will be heading towards the 23.6% Fibonacci Support at about $5.22. All 20D, 50D and 200D MA are trending down and have no sign of reversal or bottom up yet.
SGX is currently trading within the down trend channel. A tough resistance is seen at $7.06 which is the support turned resistance level. It is expected SGX to continue the down trend and get near to the down trend support or $6.16 which is the 38.2% Fibonacci Support Level.
