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Right timing: Tread cautiously as STI approaches resistance

Goola Warden
Goola Warden2/24/2018 08:12 AM GMT+08  • 1 min read
Right timing: Tread cautiously as STI approaches resistance
SINGAPORE (Feb 24): Here is a chart for this week's technical analysis:
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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.

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