SINGAPORE (Oct 12): Here are two charts for our technical analysis this week:
STI could bounce, then resume downtrend
The Straits Times Index’s decline during Oct 9-11 took the index below a twice tested support at the 3,103 to 3,109 range. Short term stochastics turned down from the top end of its range as 21-day RSI tested 30, an oversold low. ADX is rising and the DIs remain negatively placed. In addition, quarterly momentum is falling.
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