The Singapore Straits Times Index (STI) Daily Diagram Technical Analysis Training shows the following:
The STI index has made a long development from January 2014 above the KUMO cloud. Now the Index is above the KUMO above the Tenkan Sen (light green) and Kijun Sen(blue line) too (just like last 3 weeks' diagram). The weekly and monthly diagram are bullish.
So the first think in mind seeing the diagram is if STI finds support at Tenkan Sen or moves for KijunSen. MACD and RSI weak their bullishness and maybe a divergence will be created .
We have no special candlestick pattern (There is a gap). The index is above EMA 200.
There is no special pattern. The fib from 2952 to 3136 (projection) shows now a support at 1.618 of fib (3250) and a long term target at 2.618 of fib at 3434.
Maybe the index make some consolidations before the uptrend continuance considering MACD and RSI and the distance from support of KUMO. Whats the purple lines.
P.S. STI has made a long term reversal pattern breaching the 3250. The target is the 100% projection of long term low, that is 3250+(3250-2952) = 3548 for the next two-tree months.
The STI index has made a long development from January 2014 above the KUMO cloud. Now the Index is above the KUMO above the Tenkan Sen (light green) and Kijun Sen(blue line) too (just like last 3 weeks' diagram). The weekly and monthly diagram are bullish.
So the first think in mind seeing the diagram is if STI finds support at Tenkan Sen or moves for KijunSen. MACD and RSI weak their bullishness and maybe a divergence will be created .
We have no special candlestick pattern (There is a gap). The index is above EMA 200.
There is no special pattern. The fib from 2952 to 3136 (projection) shows now a support at 1.618 of fib (3250) and a long term target at 2.618 of fib at 3434.
Maybe the index make some consolidations before the uptrend continuance considering MACD and RSI and the distance from support of KUMO. Whats the purple lines.
P.S. STI has made a long term reversal pattern breaching the 3250. The target is the 100% projection of long term low, that is 3250+(3250-2952) = 3548 for the next two-tree months.
