Monday, 18 April 2011

STI Chart Analysis

Ichimoku Cloud (daily)
STI Chikou Span is above the cloud for a number of days. The near term support is at 3126. Stronger support is at 3075.


Bollinger Bands (weekly)
STI is above the middle band (SMA) at 3137 which may not be a strong support yet. The next resistance is at 3237. A new uptrend will be in place when STI can break both 3237 and 3322 levels decisively within weeks.


Disclaimer: All info posted is for reference only and not an inducement to buy or sell shares. You are solely responsible for your own actions.
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1 comment:

  1. TraderHeart19 April 2011 at 18:15

    As S&P downgrades US debt outlook, the STI is also adversely affected and closed at 3125.37 (near term support at 3126). If the support is able to hold despite the selling pressure, it will become a stronger defence line in the near term.

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