SINGAPORE (Sept 20): The confluence of the 50-, 100- and 200-day moving averages at 3,216 to 3,244 range provided resistance for the Straits Times Index, which was not able to move above this area. Instead, the index retreated as the 50-day moving average crossed below the 200-day moving average. In addition, quarterly momentum – which had tested its equilibrium line – is also retreating.

STI with moving averages and momentum

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