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Showing posts from May, 2016

STI Technical

The long term trend (monthly chart) remains downward bias as: 1) Bearish MA crossover continues 2) Lower High Lower Low trend consider 3) MACD Indicator belows zero The  mid term trend (weekly chart) remains downward bias as: 1) Resistance hold and Supprt broken 2) MACD Indicator belows zero (especially turned down near zeroline) The  short term trend (daily chart) remains downward bias as: 1) Up Trendline  is broken 2) MACD Indicator enters below zero (especially double top pattern formed) Long-term investment view is cash or underweight bias . Mid-term investment/trading view is  profit- taking   or short bias . Short-term trading view is  s hort trades bias . Remarks: The bearish gaps observed are especially noticable on the daily charts, sellers is dominant. Technical Terms (StockCharts.com): Dow Theory Moving Average Convergence/Divergence Oscillator (MACD) Moving Average Trend Line Support and Resistance Rate of Change (ROC)