I have updated my blog with a new look and new feel, I hope you will like it. Now, I shall start to resume my posting on this site now!
Let’s take some time to look at the Singapore STI today.
I saw that Singapore STI broke the upward trendline 2 days ago. However, STI was still trading in the pennant range now. It is a tug of war between bull and bear now. There is a likelihood to break up or down at the pennant.
My last post on 31 May showed that Singapore Straits Time Index (STI) enjoyed a bull run so far. STI upward bull run was cooled off last week with a pennant like consolidation pattern. Finally, STI dived 2.61% downward and the upward trendline was broken today.
I posted yesterday a final verdict of correction is around the corner on Singapore Straits Time Index.
Indeed, a dark candle is formed today and the selling pressure is pushing the STI to close at this low today.
Let’s take at look at it now!
I was looking at Singapore Straits Time Index correcting downward last week,initially, I thought the immediate support would be 38% fibonacci support. Instead, the market was support well at 23% fibonacci support instead.
Can STI sustain the current bull run?
Let’s check it out.
The global stock market has been running on a bull upward trend in the past 2 months. I have mentioned last week that a market correction is expected and we need to trade with extra careful. The market correction day is finally come in both global stock market as well as Singapore Straits Time Index.
We shall look at the Singapore Straits Time Index today!
Singapore Straits Time looks to have similar trend as Hong Kong Hang Seng. I observed an upward trendline. The market managed to trade higher last Friday to create a cheerful start for the new year 2009. We have seen many market was having a good start last Friday.
Do you think this upward momemtum will lead to a bull run?
After analysing the stock market trends of Dow Jones, Nasdaq and S&P indices. US market seems to be in the sideway market. But how about Asian markets? Where will it move and how’s the stock market trends here. Hong Kong and Singapore are two of the important stock markets here in Asia. I shall be looking at them here.
Let’s take a look at the Singapore STI and Hong Kong HSI now.
