The STI closed up 18.79 points (0.54%) at 3470.80 on thin volume of 1217.8M shares traded, with gainers and losers equally matched.
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| The Straits Times Index STI Technical Chart 2015-05-11 |
(click on the image to view larger chart)
With the continuous gain for the past 2 days, the STI has formed a 'higher low', while the RSI indicator has formed a 'lower low' 2 days ago. This matches the RSI Positive Reversal chart pattern, which signalling the bullish phenomenon.
MACD indicator is still holding it's ground above 0 for another day, while ADX indicator still shows no trend at the moment.
Despite the continuos gain of STI, the trading volume had been low for the past 2 days, hence the sustainability of the uptrend is still questionable.
Related Posts:
Technical Analysis on STI 2015-05-08Technical Analysis on STI 2015-05-07
SGX Top Volume, Top Gainers, Top Losers on 2015-05-11
RSI (Resistance Strength Indicator)
