Market Technician

China Markets Both Shanghai Composite and CHina A50 saw a Chang of Character (CoC)  within its consolidation zone. On Shanghai Composite, we saw a Spring occurring just before CoC pointing towards weak supply. With the above demand and supply observations, we are expecting a short-term upward trend on the China markets. Positive development towards G20 meeting? PBOC introducing measures to support the economy? 

Singtel Singtel has reached its 1st target at S$3.30.  The set-up was part of our studies on demand and supply character within a consolidation zone , during our Richard Wyckoff mentoring session. Next Introduction to Richard Wyckoff Method seminar will be on this coming Wednesday 12 June, 7pm at SGX Auditorium.  See you.

Gold Trade Review Gold traded as we forecast nearing our TP of US$1,350.  Congrats if you have capture the move.  However, more importantly, you have capture the capture the moves made by smart money which translated to the demand and supply actions on the market. This actions within re-accumulation zone includes Spring, Bullish character and increase of fund flow. Join us at our next Introduction to Wyckoff Method seminar to learn more the Wyckoff technique in conjunction with SGX Academy on 12 June 19.

Singtel (Z74:SGX) We shared and discussed on Singtel chart during our Wyckoff mentoring session last week. Price action is pointing towards further Mark Up as current range exhibit signs of re-accumulation and with RS and FFI trading in positive territory . The price movement is encouraging especially despite recent market sell off on escalating trade tension. A break above 3.20 will see Singtel trading towards S$3.30 with next target at S$3.34.

UOB:SGX - Major Support Broken They were many key bearish pattern formed last week. From H&S pattern on DJIA to Goldl breakout. I personally find UOB chart most critical. UOB broke and closed below major support last week, pointing to further weakness. UOB being one of the 3 major banks on the Singapore stock market, potentially points to where STI is potentially also heading.  Back to UOB, further weakness is expected on UOB chart, with next support at S$22.00.