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.

Saturday, 12 December 2015

STI Weekly Technical Outlook (14 Dec - 18 Dec 15)


Straits Times Index (STI) Technical View:
Primary Trend (6mths or more) : Bearish
Secondary Trend (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: 3,100
Resistance 1: 2,950
Support    1: 2,845
Support    2: 2,740

Probable STI Movement
Preferred  : Bearish downtrend towards 2,740
Alternate  : Sideway range between 2,845 - 2,900

Remarks: STI looses momentum again this week with its 2,845 support broken and both MACD and ROC(13) reversed back to bearish.

In view of the above, STI possible movement is trading towards its next support at 2,740.

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 bearish as support is broken and MACD resumes bearish and trades below the zero line.

Minor Trend is bearish as ROC(10) resumes bearish trend and trades below the zero line.

*Disclaimer Applies

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