Tag Archive for 'Broadening Descending Wedge'

Singapore Exchange (SGX): Bearish Long Term Outlook

July 18th, 2010 by Marubozu

SGX is still trading within a long term Broaden Descending Wedge (Green). In a medium term, SGX has formed a Descending Triangle (Blue) in 3 months.  Currently SGX is testing the Descending Triangle’s resistance (at about $7.596) but this resistance is quite challenging to be broken as it is also combination of 20D MA, 50D MA and [...]

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SGX – Forming a Broadening Descending Wedge

June 6th, 2010 by Marubozu

SGX is forming a Broadening Descending Wedge Pattern.  If SGX breaks down from this pattern, the price target is at least at $6.30 (50% Fibonacci Retracement Level). Two critical levels to watch at the moment: Whether SGX bounces down from the 20D MA resistance. Whether the Broadening Top’s support is strong enough.

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