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, 13 September 2015

STI Weekly Technical Outlook (14 - 18 Sept 15)

Straits Times Index (STI) Technical View:
Long Term(3mths or more) : 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
Preferred  : Sideway Range between 2,800 - 3,000
Alternate  : Bearish Downtrend towards 2,700

Remarks: Alternate is preferred if STI breaks 2,800 support level.

Comments on STI Technical View
Long term trend is bearish as 50 Days SMA is trading below the 150 Days SMA and 150 Days SMA 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) is at recent high levels. Thus, traders should wait for index to pull back for lower risk trades.

*Disclaimer Applies

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