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, 20 September 2015

STI Weekly Technical Outlook (21 - 25 Sept 15)

Straits Times Index (STI) Technical View:
Long Term(3mths or more) : Bearish
Mid Term(1-3mths)        : Bearish
Short Term(1mths or less): Bearish

Trading the Singapore Market (Long Trades)
Long Term Trades : Not Preferred
Mid Term Trades  : Not Preferred
Short Term Trades: Not Preferred

(^Only short trades and profit taking are preferred for this week)

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: STI likely to retest 2,800 level and if 2,800 support level is broken, STI will likely to continue its downtrend towards the 2,700 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 continues to be downward sloping.

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

Short term trend is bearish as ROC(10) reversed again near its recent high.

*Disclaimer Applies

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