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, 4 October 2015

STI Weekly Technical Outlook (5 Oct - 9 Oct 15)

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

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

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 2,750 - 2,900
Alternate  : Bearish Downward movement towards 2,700

Remarks: STI broke 2,800 and rebounded near 2,700. With ROC(10) at its low end, STI likely to trade sideway for this week.

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

Minor Trend is sideway as STI rebounded from near 2,700 with ROC(10) at its low end.

*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)