d.vezeris
Long

Straits Times Index Daily (17.08.2014) Tribute to EMA

INDEX:STI   STI Index
sti
50 0 0
sti
This week we will see the EMA (50,100,200) and MACD , RSI for various diagrams.
The Singapore Straits Times Index ( STI             ) Daily Diagram Technical Analysis Training shows the following:

The STI             index has made a correction decline last two weeks and it reacted exactly on EMA 50 last Friday. There are several golden crosses on yellow circle in April that give a sense of bull market. The EMA 50 crossed EMA 100 & EMA 200 and EMA 100 crossed EMA 200 too.

MACD completed the negative divergence and now has an uptrend return above the zero line. RSI > 50.

The fib has a 2.618 level of resistance. Long for it. Stop loss under the EMA 50.
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