Straits Times Index Daily (27.07.2014) Technical Analysis
The Singapore Straits Times Index (STI) Daily Diagram Technical Analysis Training shows the following:
The STI index has made a long development from January 2014 above the KUMO cloud. Now the Index is above the KUMO above the Tenkan Sen (light green) and Kijun Sen(blue line) too (just like last weeks' diagram). The weekly and monthly diagram are bullish.
So the first think in mind is the uptrend continuance. MACD and RSI (got overbought) has forced bullish)
We have no special candlestick pattern. The index is above the KUMO and above the Tenkan Sen & Kijun Sen & EMA 200.
There is no special pattern. The fib from 2953 to 3136 (projection) shows now a support at 1.618 of fib (3249) and a long term target at 2.618 of fib at 3431.
Maybe the index make some consolidations before the uptrend continuance considering RSI and the distance from support line.
The STI index has made a long development from January 2014 above the KUMO cloud. Now the Index is above the KUMO above the Tenkan Sen (light green) and Kijun Sen(blue line) too (just like last weeks' diagram). The weekly and monthly diagram are bullish.
So the first think in mind is the uptrend continuance. MACD and RSI (got overbought) has forced bullish)
We have no special candlestick pattern. The index is above the KUMO and above the Tenkan Sen & Kijun Sen & EMA 200.
There is no special pattern. The fib from 2953 to 3136 (projection) shows now a support at 1.618 of fib (3249) and a long term target at 2.618 of fib at 3431.
Maybe the index make some consolidations before the uptrend continuance considering RSI and the distance from support line.
