SINGAPORE (Mar 2): Here is a chart for our weekly technical analysis:
Straits Times Index (3,479, daily)
Medium- and long-term momentum indicators continue to weaken. This is despite the retreat by the Straits Times Index on Mar 1-2 finding support at the 50-day moving average, currently at 3,487. The STI is marginally below this level, but it hasn’t broken down. On Feb 9, the STI fell to low of 3,340, holding above the 200-day moving average at 3,328 before rebounding. The rebound high of 3,574 was reached on Feb 27. This level may turn out to be resistance.