Good evening, above is the daily chart of the STI. The STI has been trading in a slightly tightening sideways range since late Apr 2011. Key issues are: End of QEII in Jun 11, signs of a slowdown in US and China's economy and uncertainty over the resolution of Eurozone's debt problem.
Key support now is 3092, major resistance is 3180, minor resistance is 3125. Momentum, shown by MACD is on a down trend, but longer term trend, shown by the 200d moving average is still trending slightly upwards.
No comments:
Post a Comment