Straits Times Index (STI): A Big Correction Ahead?

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Straits Times Index (STI) has been trading within a Symmetrical Triangle for 3 months but broken down with a long bearish candle last trading day. This breakdown of a Symmetrical Triangle may send STI index down to 3,000 level which is also a psychological support level.

Also take note that the current STI is trading below all 4 Moving Averages (20D, 50D, 100D and 200D), 20D MA is crossing down 200D MA, MACD in Bearish Convergence region…. other technical indicators are also showing the bearish momentum of STI index.

I am bearish on STI in the coming weeks. Any BULL out there to share your view?

 

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GoldenAgri: Testing 50D MA Support

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GoldenAgri is retracing to test the support after breaking out from the Symmetrical Triangle. If this 50D MA support proved to be reliable, GAR has high chance to meet the breakout price target of $0.825.

Another thing to note: GAR is forming a “Higher High, Higher Low” Uptrend chart pattern.

See previous post on GoldenAgriculture: Breaking out from Symmetrical Triangle.

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Golden Agriculture: Breakout!

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GoldenAgri (GAR) breaks out from a Symmetrical Triangle. Price target of this breakout is $0.825 which is also the previous resistance.  The following are some bullish signals to support the future up trend of GAR:

  • GAR moves above 20D, 50D and 200D MA. 20D MA is going to cross above 50D MA soon.
  • MACD Bullish Convergence.
  • GAR did not reverse the trend when a Bearish Engulfing Candlestick pattern was observed. This is a pattern failure.

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