Trend Watch

Saturday, February 9, 2008

SGX Covering A Gap With A Gap


Gap at $9.31 has been filled by another gap. To close the former gap, price leaped over the previous gap thus creating a new gap in the process. The narrow range doji formed shows market indecision but the volume distribution chart below indicates more selling than buying. Any rally will probably be restricted at the new gap resistance $9.76. If more selling continues price will test $8.10 to $8.00 support.




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