The Straits Times Index STI closed up 10.32 points or 0.3% at 3450.18 last Friday (22-May). Looking at the technical chart, STI shall breakout from the current triangle soon. Will it break the triangle upward by today or continue the pull back for the next few days?
The 20 days moving average seems to cross over the 50 days moving average soon though.
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| The Straits Times Index STI Technical Chart 2015-05-22 |
Interestingly, if we look at the FTSE ST All Share Index, it's support line had already broken last Thursday (21-May) but it managed to bounce back to the triangle on Friday.
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| The FTSE ST All Share Index Technical Chart 2015-05-22 |
(click on the image to view larger chart)
