SINGAPORE (July 7): Here are some charts for our technical analysis this week:

STI daily (3,191)
A 65-point decline took the Straits TImes Index below a sideways range. The index was attempting to stabilise at the 3,254 area but broke below this level on Friday. There is now a positive divergence developing between quarterly momentm and the STI. Quarterly momentum had turned up from a very oversold low and may continue to do so.

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