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… Continue reading Straits Times Index (STI) Trend heading into 2012
Critical support levels coming up for STI. They are 3103,Â 2972,Â 2935.
Despite breaking out of the kumo, STI may be hitting resistance soon. 1. Resistance level from Chikou Span is around 3201.65 2. There is a high possibility that it will retrace.with support at 3124 and 3063. Target timeframe : 2 months for retracement. Note: Singapore election is just around the corner. Take care.