STI Chart Analysis

Ichimoku Cloud (daily)
STI has surged strongly over the week to 3183. Both Tenken sen (blue line) at 3129 and the Kijun sen (red line) at 3094 are also moving up together. This is a positive sign for the bulls. As STI has gone above the cloud top level of 3125, this is also a bullish sign. 3125 is now a support level to monitor for any change in this up trend. The next resistance test will be at 3200 level where a few attempts in the past few months had failed to overcome confidently.

Bollinger Bands (weekly)

Weekly STI has washed away last week bearish mood with a big white candle. STI is above the middle band at 3115 level. The upper band is currently at 3256 (resistance level) and the lower band at 2974 (support level). Both bands are moving higher, which is a bullish sign. It will be a more definitive signal if STI can go above the upper band convincingly 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 is now in between the Tenken sen (blue line) at 3113 and the Kijun sen (red line) at 3078. The momentum of the strong recovery has dissipitated and the market seems to be looking for a direction. 3078 will be the first important support to watch in any possible down turn. The consecutive 3 smaller candlesticks after 2 bigger black candlesticks show an indecisive market. The bears have a winning week by pushing the index below the cloud, however the bulls still has a chance to push up the index as the cloud level is not far from its current level of 3084.

Bollinger Bands (weekly)

Weekly STI shows a bearish candlestick pattern with a big black candle appearing after a doji. The STI is staying around the middle band at 3109 level. There is still no clear direction of a longer term trend. The upper band is currently at 3255 and moving lower. This band had not been challenged for more than 6 months. The lower band at 2963 is moving higher and may provide a good support in any down turn.

 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 manages to close off the week at 3151 slightly above SPAN A 3144 (top part of cloud). This is a positive sign for the longists. The recent high of 3156 will present the first level of resistance in any up move. STI Tenken sen (blue line) at 3100 has also gone slightly above the Kijun sen (red line) at 3083. The momentum of the strong recovery will continue if the gap between them gets widen. 3144 is an important support level to monitor.

Bollinger Bands (weekly)

Weekly STI has shown a slow down in the upward recovery (indicated by the small body candlestick). The middle band at 3106 level is the new support level. The upper band resistance at 3267 is a strong resistance level to overcome for a bullish trend to be confirmed. This resistance level was overcome in Nov 2010 and Jan 2011 but STI did not manage to maintain above the level for long.

 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 manages to close off the week at 3139, whisker away from SPAN A 3143 (top part of cloud). STI has overcome the strong resistance at 3065 as mentioned in last week report and this point is now a new support level. The rising momentum will challenge the next resistance at 3143. STI Tenken sen (blue line) at 3091 has also gone slightly above the Kijun sen (red line) at 3089. The momentum of the strong recovery will continue if the gap between them gets widen. Otherwise, 3143 will be a level where the index may consolidate a while befor the next move (similar to the previous few months).

Bollinger Bands (weekly)

Weekly STI has successfully crossed above the middle band at 3103. The BB channel is positioning to move upward. This is a recovery sign. 3000 level has become a new support level with this strong rebound. The upper band resistance at 3268 is the next resistance level to overcome for a bullish trend to be confirmed.

 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.