5 hours ago
Humbled, we would like to thanks for your support who has already liked, commented and followed us.
Your support, strengthens us, to help in analyzing the market.
STI (Straits Time Index) - SGX - Continue Bullish
These are the key resistance and support area for me now, if prices reversed below our resistance area, a break below our green trend line could give the confirmation of a further drop to our support area
As predicted in our post of April 6, STI finished a primary degree bullish triangle and is now trending up. It seems to have finished wave ii and entering wave iii up. The most probable target is at the 3,240 level, which would total 27% of gains in around 2-month period. We may revise this analysis if prices cross down 2,480. FOLLOW SKYLINEPRO TO GET UPDATES.
STI finished cycle wave 4 and it is now tracing the initial stages of cycle wave V , which could offer up to 150% of gains during the next 3 to 5 years. This scenario should be reviewed if prices crosses down 2,180. FOLLOW SKYLINEPRO TO GET UPDATES.
STI had briefly broken down below the broadening pattern and quickly recovering back. If it stays inside the pattern then we should see it reach the top of the pattern. If not, it is headed for the previous long term support as per the pattern target.
But in reality, it might do neither. I am assuming it will do a partial pullback inside the pattern and then...
STI finished a primary degree contracting triangle pattern that should initiate a long path upward from here. It seems to be tracing a 5 wave move up that will form a minor wave 1 pattern. Currently we should be beginning a minute impulse wave 3, the strongest of the impulse waves that should deliver from 14 to 24% returns up to the next 10-15 days. Price-to-book...
STI has reached the critical price zone of 3465 , hitting the right shoulder pattern. With the crossover of MACD soon, I expect the market to turn soft a little next month with some pull back in price action before we see another surge later. Buy on weakness.
2 Options as we come to the crossroads soon.
Option 1 : Breakout and pullback and head northwards to 4000+ price level
Option 2 : Breakdown as per previous 2 attempts
Analysts are expecting a breakout of 3500 , read news here
I do not trade this index but use it as a barometer for overall stock performance and dive down into individual...