STI Daily Chart Analysis



From oil price tumbling, HK protest, fear of eurozone triple-dip recession to US-ISIS conflict and Ebola scare. Lots of fear in the market now. No better way to quantify these negativity with a little bit of charting action on our STI index.


I have notice since mid April this year, Macd and Rsi have been showing bearish trend divergences relative to STI index; making lower lows while our index makes higher highs. Macd has moved into negative region and Rsi currently oversold at 27.22.

Possible support at trend line as demarcated(green line). If support breaks, plot fibo levels and judge accordingly. To each his own.

No comments :

Post a Comment