SGX: Final call for boarding!

It's been a while since the last update on the SGX, the Singapore Exchange. After a few futile attempts to clear upper channel resistance, SGX has been in consolidation mode for months. Last session saw a breakout of a wedge pattern on decent volume, and may be the beginning of a rally of sorts.

Bad Weather Overhead

Unlike the last time, this may not be a rocket-launch, but a gentler takeoff - lots of bad weather overhead. In the very short-term, a back-test is possible. Resistance levels to the upside are at 7.66, 7.90, upper downtrendline, 8.11, 8.5 & 9.0

Eventual target of 9.0 is possible, especially on a break above the downtrendline. This blog usually doesn't cover individual stocks. If you are curious, here's why i cover this stock.