I'm removing the previous chart due to some error which causes my mis-interpretation on the support level.
With STI moved up and closed at 3561 on Friday, it has actually crossed above its 20d EMA, hopefully it is able to continue to stay above the level and able to find it support there. If not, we may see it moving down towards its next support level at 3507 (50d EMA), follow by 3487, which is at the bottom of possible head and shoulders formation. If STI fall below this level, we need to be careful as it may continue to fall.
With US market moving up slightly on Friday, hopefully Singapore market is able to follow on Monday.
2 comments:
Hi Sense & Guts,
Was wondering if you could link your blog up to mine at http://sgmusicwhiz.blogspot.com ? I blog about value investing.
Thanks a lot !
Hi Musicwhiz,
Sounds good. I've visited your blog and have added your link to my blog. You may want to add mine to yours as well.
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