STI Weekly Technical Outlook (28 Dec - 1 Jan 16)
Straits Times Index (STI) Technical View: Primary Trend (6mths or more) : Bearish Secondary Trend (1-6mths) : Bearish Short Term(1mths or less) : Neutral Trading the Singapore Market Long Term Trades : Not Preferred Mid Term Trades : Not Preferred Short Term Trades: Long Trade and Short Trade Levels to watch: Resistance 2: 3,043 Resistance 1: 2,912 Support 1: 2,793 Support 2: 2,740 Probable STI Movement Preferred : Sideway range between 2,800 - 2,900 Alternate : Downward trend towards 2,750 Remarks: STI maintained its sideway momentum with no breakout from its trading range. In view of the above, STI possible movement for the coming remains likely to rangw between 2,800-2900. Comments on STI Technical View Primary Trend is bearish as 55 Days SMA is trading below the 144 Days SMA, and 144 Days SMA continues to be downward sloping. Secondary Trend is neutral as MACD bullish crossover signal is observed but trades below the zero line.