Trading Ichimoku » STI

Straits Times Index (STI) Trend heading into 2012

iam802 — Mon, 26 Dec 2011 06:39:46 +0000

Since the gap down from July, STI has hardly recover.

Price range has ‘consolidated’ between range 2528 to 2900

Currently, from the Ichimoku chart, STI is trading below the kumo.

All signs point to a lower STI going into 2012.

1. Trading below kumo with resistance at 2714

2. Both Tenkan sen and Kijun sen pointing down

3. Leading kumo has twisted and the counter trend rally has failed.

Future trend suggest that it is heading downwards.

Singapore banks in bearish territories.

iam802 — Sun, 02 Oct 2011 02:54:31 +0000

All 3 Singapore banks (UOB, DBS, OCBC) are in bearish territories in the Ichimoku charts.

If Singapore is a financial hub and the banking stocks is a reflection of the economy, then the charts are clearly showing the significant resistance ahead.

I expect tough times ahead in 2012.

UOB with support at $16.85 and resistance at $17.21

OCBC with support at $8.03 and resistance at $8.28

DBS with support at $11.77 and resistance at $12.21

Genting (G13) : Bearish with heavy resistance

iam802 — Thu, 21 Jul 2011 13:22:24 +0000

The Ichimoku chart for Genting is very bearish.

The drop in May till now is steep; going down from $2.25 to 1.78

There is still no sign of consolidation for the price and heavy resistance can be seen from the thick kumo ahead.

Immediate resistance is at $1.94

On the Weekly Ichimoku chart, we can see possible good support at around $1.58 and that could be a good entry point.

Capital Malls Asia (JS8) : Possible Bullish Cross (Weak)

iam802 — Thu, 07 Jul 2011 03:41:46 +0000

Capital Malls Asia (JS8) seems to be consolidating around 1.4 to 1.48

This represent a pretty good entry point as the range is narrow.

Looking ahead, it face heavy resistance from the thick kumo.

If it goes above 1.6, a bullish trend will be confirmed.

In the short term, I am looking for a possible weak bullish cross below the kumo.

Singapore Exchange (S68) : Bearish signals ahead.

iam802 — Tue, 14 Jun 2011 03:16:00 +0000

SGX Ichimoku chart continues to show bearish sentiments.

1. Bearish Tenkan sen – Kijun sen cross beneath the kumo sighted.

2. Thick kumo resistance ahead.

3. Support level is at around $7.24.

However, with the Tenkan sen and Kijun sen both showing bearish strengths, it is likely that $7.24 will break and we may see it test support at $6.92 and $6.58

If $6.58 does not hold, the target is around $5.76 or lower; back to 2009 levels.