Cosco Singapore Technical Analysis

1) A falling wedge is forming inside a big consolidation triangle.

2) The measured move of the falling wedge is around 0.4 - the first target.

3) The measured move of the consolidation triangle is at around 0.7 (the second target) but it needs to overcome the strong resistance zone at 0.6 first.

Zooming in on the falling wedge, based on 13th Jun chart, the price is testing the falling wedge upper resistance line. As long as price does not close below the wedge, first target could be achieved.

From monthly TF perspective, Cosco could possibly have reached bottom and ready to go up to 0.6.before going to 0.7. If the falling wedge pattern fails to materialize inside the consolidation triangle, it could test the bottom and possibly test new low at 0.254.

Related post: Cosco Singapore Technical Analysis Part 2