SG30SGD Resistance zone possible downtrend. It find itself in a zone which acted as support and resistance multiples times in the past so it is more than possible that it happens again.
Looking at STI Weekly chart, price was in range for about 6 weeks and had a significant break down.
It will seem that the long term downtrend channel may be as a temporary support and further breakdown back into the downtrend channel will likely resume bearish outlook.
The past movement indicate highly cautious move, sell into exuberant strength seems higher...
The Straits Times Index (STI) retraced -0.56% (-15.93 points), implying the play of the weekly Bearish Shooting Star candle highlighted last week. This retracement also coincide with the gap resistance zone of 2,900-2,960 levels.
However, STI have exhibited its first major moving average golden cross (50DMA vs 200DMA) which was last witnessed in March 2019. The...
Singapore Strait Times Index ( STI) is still bearish with failure to break/close above important high.
End of Sep concludes the end of 3rd quarter trading.
If STI is going to close below 3200, this shows that STI is closing low towards the quarter.
Targeting 2800 as a strong support.
While USDSGD began the past week of trading with a downward moves, these were quickly reversed by the end of the week and the price ended up where it started: Clearly, traders can see over the past few months that USDSGD prefers to trade within its range of horizontal resistance at around 1.3612 and of support between around 1.3442 and 1.3473. Bull bear indicator...
4th consecutive day of rejection.
Shooting Star and Doji fully formed.
Confirmed resistance area at 370.0.
Market overbought by looking at the Stochastic.
Singapore30 should give us a potential short opportunity.
K.
