SGX – Forming a Broadening Descending Wedge

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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