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Right timing: No Christmas cheer for the STI

Goola Warden
Goola Warden12/22/2017 7:8 PM GMT+08  • 2 min read
Right timing: No Christmas cheer for the STI
SINGAPORE (Dec 22): Here are some charts for our weekly technical analysis.
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SINGAPORE (Dec 22): Here are some charts for our weekly technical analysis.

Despite a three-point bounce on the last trading day before Christmas, the STI lost 31 points during the week to close at 3,385. This takes the index marginally below the 50-day moving average at 3,396. A couple of factors are worrisome. The STI ended below a support line before a long weekend. And, short term indicators are weak. The 21-day RSI has broken below its equilibrium line support after a negative divergence with the STI. ADX has flattened, and the DIs are clearly negative. Short-term stochastics is falling.

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