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My STI TA view
STI currently showing a Bullish Falling Wedge Reversal break out. Price action convincingly broke out from its upper resistance line and 100dma(3190). This is a bullish pattern. Current target resistance is at previous high(3250). To each his own.
The Straits Time Index (STI) is a capitalization-weighted stock market index that is regarded as the benchmark index for the Singapore stock market. It tracks the performance of the top 30 companies listed on the Singapore Stock Exchange. It is jointly calculated by Singapore Press Holding (SPH), Singapore Exchange (SGX) and FTSE Group (FTSE).
The outperforming sectors today were represented by the FTSE ST Telecommunications Index, which rose 1.85%. The two biggest stocks of the Index – SingTel and StarHub – ended 2.01% higher and 0.27% higher respectively.
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