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Since our last predictions on the Straits Times Index, the price has continued to fall from 3300 to 3000, and then below it.
At this rate of decline, is there any support or bottom in sight?
I generally do not like to do projections, because most projections are just guesses.
The best way to know is to observe the price as it moves, then you will know when it ...
Missed the head and shoulder pattern.
Seeing good short opportunities at the 2958.29 level.
Target exit level at 2527.70 level.
If you/I have the guts, most probably just ride the wave down from 2527.70 downwards.
What do you guys think?
Green 6 on the hourly small break upwards, given that other markets hourly candles such as Nikkei and $SHCOMP are already beyond a green 9 on the hourly it signifies trend exhaustion and a red day is expected real soon. Macro view still remains very weak and as such might be a deadcat although a real bounce is not discounted.
1) Take profit & do not ...
Market may have bottomed.
Targeting 3360, 3600.
Since my last call to short (on my blog and during my events), the STI has fallen about 5.5%, and has corrected 13.3% from the highs.
This is the reason why I am bearish on Singapore stocks and have liquidated my portfolio a long time ago to focus on the US markets.
I have a feeling price will continue falling until the 3000 support level. I will be watching to ...
1) Classic Support turned Resistance
2) MACD Possible failure to break above zero line
Above analyst fails if STI breaks above downtrend line
If current trading maintains and STI closes wit a Hammer pattern. STI is high a high probability of rebounding and testing its immediate resistance zone at 3,340-3,360. Currently STI is trading at a support-turned-resistance level of 3,270.
A break above 3,360, will see TVC:STI trades towards 3,400.
As the trade war between US and China intensifies, general markets in Asia get the ripple effect too.
STI has dropped around 5.40% and is now trading around 3300 region.
If you're feeling worried because of this drop, you better be.
If you're feeling happy because now you think you can buy at a cheaper price, you better don't.
Now, why do we say so?
If you're ...
Hey everyone! So if you take a look at the daily chart of the Straits Times Index, it breaks not only the bullish trend line but also the 9-Day Moving Average. That validates the end of bull direction in my opinion, unless it goes the other way around, or sideways.