SINGAPORE (Feb 24): Here is a chart for this week's technical analysis:
Straits Times Index (3,533, daily)
Even though the Straits Times Index rebounded and regained the 50- and 100-day moving averages, quarterly momentum has encountered resistance at its own declning moving average. Short-term stochastics has turned up from the low end of its range and has the potential to move higher. ADX continues to fall although DIs have turned neutral from a negative stance, lending weight to the rebound. That would suggest that prices could move towards 3,600.