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Right timing: Short term reprieve for STI likely as RSI attempts rebound

Goola Warden
Goola Warden4/7/2018 07:49 AM GMT+08  • 1 min read
Right timing: Short term reprieve for STI likely as RSI attempts rebound
Straits Times Index (3,442, daily) Although the Straits Times Index rose 15 points during the week, technical indicators continue to deteriorate. The 200-day moving averae is at 3,375, and the index whipsawed the moving average on Apr 3 before regaining
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Straits Times Index (3,442, daily)
Although the Straits Times Index rose 15 points during the week, technical indicators continue to deteriorate. The 200-day moving averae is at 3,375, and the index whipsawed the moving average on Apr 3 before regaining the moving average the following session.

In the meantime, the 50-day moving average has turned down, and the 100-day moving average is in the process of turning down. Quarterly momentum has broken below its equilibrium line. ADX continues to rise as the DIs stay negatively placed.

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