Today, STI has move down to as low as 3352 before closing at 3361. Base on the chart, STI is currently supported at its 20d EMA which is at around 3350 and resistance at around 3404. If STI is to fall below the 20d EMA, we may see another round of correction and if it breakout the 3404 resistance, we may see it testing the new height again.
Generally, May is usually a weak month of the market, do trade with care and be selective.
3 comments:
Hi! You mentioned 20d EMA. How come your chart shows 50, 100 and 200 EMA?
I think there are 4 EMAs over here - 20d, 50d, 100d and 200d.
why is may usually a weak month???
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