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.

Friday, 18 August 2017

Straits Times Index (STI) Forecast

STI Index Not Looking Good At The Moment

STI has been trading in a up trend channel since late 2016. Momentum peaked as STI traded near resistance at 3,350-3,400, with MACD Indicator trades near previous high. What's significant this week is STI breaking below the support line. This provides technical reason that sellers are beginning to dominate the trading.

If the bearish momentum persist, STI is projected to trade towards 3,100-3,120 which is a previous resistance turned support zone and also the 38.20% Fibonacci retracement level.