Market Comments (STI) Update 29 Apr 2014

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STI Daily 29 Apr 14

The STI index made a false breakup above 3,260 for several days and came back to below the resistance of 3,260. The candlestick pattern for those candles above 3,260 is not sustainable and their bullish nature was short lived. This was anticipated in the last posting 2 weeks ago.

As at 29 Apr 2014, the STI closed at 3,237 with RSI making a failure swing and MSCD crossing down below the signal line. The next support is at 3,200. Let’s see how the index react at 3,200. When it gets supported and the indicators are wearing off, signifying supported retracement, look for a high probability setup for entry.

photo credit: Eustaquio Santimano via photopin cc

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Market Comments (STI) For Week of 21 Apr 2014

Graph With Stacks Of Coins

STI Daily 17 Apr 14_

STI has faced with strong resistance at 3,260. The index is losing strength and will retrace in the coming week. Immediate support at 3,200 and followed by 3,155.

photo credit: kenteegardin via photopin cc