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Right timing: Continuation pattern implies new upside

Goola Warden
Goola Warden12/1/2017 07:44 PM GMT+08  • 2 min read
Right timing: Continuation pattern implies new upside
SINGAPORE (Dec 1): Here are some charts for our technical analysis this week:
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SINGAPORE (Dec 1): Here are some charts for our technical analysis this week:

Straits Times Index (daily)
Although the STI (3,449) closed at a new 10-year high on Dec 1, the chart pattern still looks corrective. ADX is falling, as the DIs remain positively placed. This occurs during corrective phases. Short term stochastics is approaching the high end of its range and could turn down. Meanwhile, medium term indicators are intact. Quarterly momentum and the moving averages continue to rise. The long-term annual and 24-month momentum are also intact.

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