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.

Sunday, 2 June 2019

UOB:SGX - Major Support Broken

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.