STI Weekly Technical Outlook (4 - 8 Jan 16)
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 Term Trades : Not Preferred Mid Term Trades : Not Preferred Short Term Trades: Long Trade coupled with 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 likely again to maintain a sideway trading momentum with no resistance breakup or signs of strong uptrend. Thus, the blog maintained a sideway view for STI, with a possible short term downtrend alternative. 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