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, 18 October 2015

STI Weekly Technical Outlook (19 Oct - 23 Oct 15)


Straits Times Index (STI) Technical View:
Primary Trend (6mths or more) : Bearish
Secondary Trend (1-6mths)     : Bullish
Short Term(1mths or less)     : Bearish 

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

Levels to watch:
Resistance 2: 3,150
Resistance 1: 3,050
Support    1: 2,950
Support    2: 2,800

Probable STI Movement
Preferred  : Sideway Range between 2,950 - 3,050
Alternate  : Bullish upward movement towards 3,150

Remarks: STI trended sharply towards week high near resistance 1 level at 3,050. STI likely to trade sideway for this again week as indicators are still indicating extreme bullishness.

Comments on STI Technical View
Primary Trend is bearish as 50 Days SMA is trading below the 150 Days SMA and 150 Days SMA continues to be downward sloping.

Secondary Trend is bullish as MACD is above zero.

Minor Trend is sideway as ROC(10) continues to trade in extreme bullish zone and may possible see resistance and re-test support.

*Disclaimer Applies

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