I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.

This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.

Sunday, 6 September 2015

STI Weekly Outlook (7 - 11 Sept 15)

Straits Times Index (STI) Technical View:
Long Term(3mths - 1 year): Bearish
Mid Term(1-3mths)        : Bearish (Bullish if breaks above 3,000)
Short Term(1mths or less): Bullish

Trading the Singapore Market (Long Trades)
Long Term Trades : Not Preferred
Mid Term Trades  : Not Preferred
Short Term Trades: Preferred - counter-trend swing trades at support levels.

Levels to watch:
Resistance 2: 3,150
Resistance 1: 3,000
Support    1: 2,800
Support    2: 2,700

Probable STI Movement
Most Likely: Bearish Downtrend towards 2,700
Alternate  : Sideway Range between 2,800 - 3,000

Remarks: Alternate is favourable if STI breaks downtrend line.

Comments on STI Technical View
Long term trend is bearish as 50 Days MA is trading below the 150 Days MA and 150 Days MA is downward sloping.

Mid term trend is bearish as resistance (3,000) holds, even as MACD is bullish.

Short term trend is bullish as support(2,800) holds and momentum indicator, ROC(10) completed a head-and-shoulder like pattern, thus displaying possible short term upside momentum.

*Disclaimer Applies

Technical Terms (StockCharts.com):
Support and Resistance
Rate of Change (ROC)
Moving Average Convergence/Divergence Oscillator (MACD)
Moving Averages
Trend Lines