Momentum - Overbought
Volume - 2x 50D MA
Candle - NA
Pattern - NA
In my last week forecast, the STI should be targeting 2880. With 2 strong days of momentum, It had broken the Resistance and turn support. Another very bullish signal. The new trading range is now at 2880 and 3000. What to watch for next week STI? 100D MA 2900. 2x volume advancement observation are not so common, and if it arrives - it is indicating institutions buying in. Those STI 2700 and 2500 should remain a history. Should I buy now? Likely momentum is targeting 3000 and most likely 3200.
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