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Straitstimes

SG Market Technicals Ahead (7 Dec – 11 Dec 2020)The Straits Times Index (STI) retraced -0.56% (-15.93 points), implying the play of the weekly Bearish Shooting Star candle highlighted last week. This retracement also coincide with the gap resistance zone of 2,900-2,960 levels. However, STI have exhibited its first major moving average golden cross (50DMA vs 200DMA) which was last witnessed in March 2019. The significance of this major MA golden cross is a midterm predictor for direction of its market index in the next 6-9 months. The major support to watch at this junction is at 2,785 level, a minor classical support established last week.
TVC:STI
by jfsrevg
STI - Singapore - poised to deliver 15 to 25% during next 10daysSTI finished a primary degree contracting triangle pattern that should initiate a long path upward from here. It seems to be tracing a 5 wave move up that will form a minor wave 1 pattern. Currently we should be beginning a minute impulse wave 3, the strongest of the impulse waves that should deliver from 14 to 24% returns up to the next 10-15 days. Price-to-book ratio also confirms the pattern. Time to catch it ! FOLLOW SKYLINEPRO TO GET UPDATES.
INDEX:STILong
by SkylinePro