I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.

This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.

Monday, 28 August 2017

Shanghai Sock Exchange Composite (SSEC)

Shanghai Sock Exchange Composite (SSEC)

Significant break from the bullish Ascending Triangle pattern after close to 2 years of consolidation. 1st target set at 3,680 which is the confluence of the 261.80% Fibonacci projection and previous resistance set in late 2015.

If strong momentum persist, we could see the index trading towards the 2nd resistance at 4,000 which is the confluence of 423.6% Fibonacci Projection and previous resistance created in mid 2015.