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Let’s take some time to look at the Singapore STI today.
STI Set New High of Year
STI continues the uptrend and achieved a new high of year yesterday. I am sure you can see that the market weakens today with black candle. STI high the limit of upper trendline of an upward channel. Therefore, today’s correction is normal to see.
Now, it will be interesting to see if STI can continue to break this high at 2,785 to scale a new high. I will have doubt with that. I am see the volume continues to trend lower and lower despite the upward price movement. This forms the volume – price divergence in technical analysis and there is a likely to have a trend reversal soon.
I am also see the indicator are now moving in the oversold region as well, short term correction down to the lower trendline is inevitable. The lower trendline will also act as a price support too. If you observe that the support is broken in the coming days, there can signal a likelihood of a trend reversal coming.
So, meanwhile, beware beware and trade with care!!!
Singapore STI New High 2009
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
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