SINGAPORE (Nov 16): Quarterly momentum is strengthening and has broken above a resistance and its own moving average. The strength of this indicator could trigger a breakout by the Straits Times Index.
Immediate resistance has been recalibrated to the Nov 2 high of 3,116, a level which now coincides the declining 50-day moving average of 3,115. The upturn by quarterly momentum is likely to be reinforced by the recovery of the 21-day RSI.
