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| STI The Straits Times Index Technical Chart 2015-04-30 |
The Straits Times Index STI was traded below its previous closing point for the whole day on 30-Apr-2015 but it surprised all by a sudden surge of more than 10 points during the last minute of trading and managed to marked its closing point of April 2015 at 3487.39, up by 0.24.
Looking at the technical indicators for STI, the downward momentum is getting stronger. It is now traded underneath its 20 days MA, though still supported by 50 days MA. ADX indicator is now slightly above 25, indicating that the uptrend is losing its momentum, while MACD indicator have been showing the bearish signal.
Further consolidation is inevitable with mid term support at 3357. As long as this support is held, the STI remains bullish.
Your comments are most welcome and appreciated.
(click on the image to view larger version of chart)
