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Right timing: STI approaches resistance

Goola Warden
Goola Warden5/4/2019 01:09 AM GMT+08  • 2 min read
Right timing: STI approaches resistance
SINGAPORE (May 4): The STI’s uptrend remains intact. However signs are emerging of fatigue. The index tested 3,400, a psychological resistance and retreated. In the meantime, short term stochastics has flattened along with 21-day RSI, setting the indica
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SINGAPORE (May 4): The STI’s uptrend remains intact. However signs are emerging of fatigue. The index tested 3,400, a psychological resistance and retreated. In the meantime, short term stochastics has flattened along with 21-day RSI, setting the indicators up for forming a negative divergence between indicators and the index.

Quarterly momentum remains in positive territory and above a support level. The 50-, 100-, and 200-day moving averages are positively placed. Still, in the short term, the STI may earn a well deserved consolidation. Immediate support appears at 3,350.

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