For those interested in Singapore equities market, here's one potential setup. Price has been rallying since the low in 2016 @ 16.77 to the recent high in 2017 @ 24.59. Price has developed a complete 5 waves structure, and according to Elliott Wave principle, we are now expecting a potential 3 waves retracement. This gives us a potential short term trade...
Weeky chart- I am neutral on this. Usually for a descending triangle it break support and go lower. But it isn't true, it sometime still does break resistance and go higher. We shall see in a 2-4 months times.
Possible market top.
-Market top reversal -Moving Averages are down too.
We are seeing very strong reversal is unfolding. The Risk and the possible reward is just too good. I am seeing it can swing up to 0.99 level. We shall shall as it unfolds. I am standing with BULL for now. Trade Safe, S0nic
-Ascending triangle in monthly chart -Commodities stocks will rise accompanied with weakening dollar.
Technicals/Charts: - Approaching the Support/Resistance at 3.20/3.30 levels - Weekly RSI turned up at 50 - showing strength still - MACD consolidating for some time I would like to see price break above the resistance TL and the support turned resistance zone with high than usual volume. This will give an indication of a strong rally.
-Bearish downtrend channel. Primary trend:downtrend -Possible down to secular trend line at around 1.7x level.
Double bottom with bullish divergence, possible break out.
-Descending triangle formation. -CMF is in downtrend.
-Looking bearish with descending triangle formation. -If 0.81 breach successfully price looking to go downwards.
-Descending Triangle, continuation pattern. -Price satisfaction at 2.155