STI Chart Analysis

Ichimoku Cloud (daily)
STI manages to close off the week at 3067. As mention in the  last report, STI face a strong resistance at 3065. This week will see whether STI can maintain above 3065 and regain back the rising momentum to challenge the next resistance at 3143. If not, STI may hover around 3065 for a while as the next consolidation level. The next strong support level is at 3000, the recent low point where STI recovered. STI Tenken sen (blue line) at 3036 is still much lower than the Kijun sen (red line) at 3089. It also shows that the momentum of decline is slowing down.

Bollinger Bands (weekly)

Weekly STI shows a good rebound and the index may challenge the middle band at 3100. The BB channel is moving downward. This is a bearish trend. It is a crucial time to see if the lower band support at 2928 will hold in the coming weeks. Any recovery will need to go above 3100 and toward the upper band resistance at 3271.

 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.

STI Chart Analysis

Ichimoku Cloud (daily)
STI Tenken sen (blue line) at 3061 and is going much lower than the Kijun sen (red line) at 3091. This is a bearish sign. The consolidation phase seems to be over since STI went straight below the cloud in a clear move in 2 weeks. STI below the cloud means it will be facing a strong resistance at 3065 and another resistance at 3145 if the bulls want to regain back control for an uptrend. The previous low of 2920 on 18 March 2011 is the next support level to watch.

Bollinger Bands (weekly)

Weekly STI has dipped below the middle band at 3107 and moving towards the 2936 support level of the lower band. The previous time when STI touched the lower band, it rebounded by over 100 points in 3 weeks. It is a crucial time to see if the support will hold again in the coming 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.

STI Chart Analysis

Ichimoku Cloud (daily)
STI Tenken sen (blue line) at 3126 and is very close to the Kijun sen (red line) at 3128. STI is now positioned inside the cloud, which means it will be facing a strong support at 3065 and a resistance at 3143. If 3065 is broken convincingly, it will become the start of a new bearish trend. Longists will have to monitor the level carefully to determine if it is a false break down or a new down trend has started.

Bollinger Bands (weekly)

Weekly STI has dipped below the middle band at 3118. If this support is broken, STI may go lower towards the 2952 support level of the lower band. From the past few weeks, STI has went below the middle band twice including last week data and both lows are at about 3077. As such, it can potentially become the start of a new bearish trend if this 3077 support level is broken convincingly this week. Beware of false break down which is not followed by high volume.

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.