The STI closed up 19.23 points (0.56%) at 3452.01 on 08-May-2015 with thin volume of 1380.9M shares traded, and gainers and losers equally matched.
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| The Straits Times Index (STI) Technical Chart 2015-05-08 |
(click on the image to view larger chart)
From technical analysis perspective, it seems that 100 days moving average is a strong support, and if the STI manage to hold its ground above the current level, 07-May would be the recent low of the index, and further upside can be expected.
RSI indicator has also bounced from its 15-month lowest point and this may form a RSI positive reversal, which implies a bullish trend as well.
MACD indicator has not crossed over to the zero line, while ADX indicator is still below 25, which implies the momentum of downtrend at the moment is very weak.
Your comments or feedback to the post is greatly appreciated.
