STI Weekly Technical Outlook (28 Sept - 2 Oct 15)

 

Straits Times Index (STI) Technical View:
Long Term(6mths or more) : Bearish
Mid Term(1-6mths)        : 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

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 Downward movement towards 2,700

Remarks: STI is testing its 2,800 support level. If broken, STI will likely to continue its downward movement towards the next support level at 2,700. STI movement bias is tilt towards Bearish as the recent short term highs are trading lower.

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) is downward trending and recent short term highs are trading lower.


*Disclaimer Applies

Notes: Mid Term period definition has been adjusted to as 1 - 6 months from this post onwards.

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