Nov 24, TA for STI and DJI

Nov 24, TA for DJI,

TA for DJI, we should be officially into the trading range of 11600 and 10800. DJI had trend below the 50D MA, indicating a start of downtrending.

Nov 24, TA for STI,

STI is trading at a strong support 2680, to short at a STI strong support is dangerous. STI needs to trade down for a strong confirmation of downtrending or a better chance to do a short position. Volume has picked up over the last few days, indicating Bear is gaining momentum.

Nov 21, Weekly TA for STI (using Fibonacci methods)

Recently, STI movement was bullish testing the 2900 and a quick 3 weeks reversal back to 2700 support level. The Europe debts news are constantly causing the volatility and the index swing. The daily trades are confusing but STI daily movement is getting bearish with increased volume.

A quick update of the Fibonacci Retracement and Timezone to determine the overall predictive model. In this chart, I have updated 3 colors arrows (RED = Fibonacci, BLUE = Historical Support/Resistance, ORANGE= 28Days Support and Resistance). Fibonacci Timezone was incorporated to estimate a possible movement of a new trading Range.

Based on the reading of the Fibonacci's Retracement and Timezone, this trading range will still persist for a period of time. Critical STI support range to watch - 2680 and 2580.

Safe Trading.