SINGAPORE (Dec 8): The US markets’ volatility had a limited impact on the Straits Times Index which ended the week at 3,111. However, it prevented a clear move above the 100-day moving average at 3,162. But the index remains above its 50-day moving average which has flattened at 3,093.

At end Nov, the STI moved above the Nov 2 high of 3,116 and the area around this level may yet provide support. If so, the index should rebound during the week of Dec 10-14. On Dec 3, the STI closed at 3,190 before retreating. Quarterly momentum remains resilient. Meanwhile, directional movement indicators are neutral. ADX is flat, and DIs are positively placed. A break above 3,100 indicated an upside of 3,240, but this indicates potential and is not an absolute target.  

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook