Ichimoku Cloud (daily)
STI Tenken sen (blue line) at 3140 is back below Kijun sen (red line) which is at 3147. This confirms that the consolidation phase is still not over yet. A strong move about the blue and red line will mark the start of a new uptrend. Thus far, the two Span lines is still not diverging widely when moving upward. The pattern can be considered mildly bullish. The near term support (Span A) is now at 3112 while the stronger support level (Span B) is at 3073.
STI Tenken sen (blue line) at 3140 is back below Kijun sen (red line) which is at 3147. This confirms that the consolidation phase is still not over yet. A strong move about the blue and red line will mark the start of a new uptrend. Thus far, the two Span lines is still not diverging widely when moving upward. The pattern can be considered mildly bullish. The near term support (Span A) is now at 3112 while the stronger support level (Span B) is at 3073.
Bollinger Bands (weekly)
There is not much changes in the weekly chart. The middle band at 3128 is providing quite a strong support at the moment. If this support is broken, STI will go lower towards the 2959 support level of the lower band. A uptrend move will need it to break the resistance level at 3298 as confirmation. As the bollinger band narrows, the chances of a change in trend or start of a new trend will increase. For the time being, keep monitoring the daily chart for any sudden movement.
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.
No comments:
Post a Comment