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Web thoughts-denzuko1.blogspot.com

My Charting Blog

It is interesting that I start off this Blog when the Singapore Stock Market is heading south. However, this makes it more interesting for me to write on as the market turned volatile. My interest is Technical Analysis, TA for short. I love to look at charts and predicting where they are heading. This blog is or me to record my thoughts on the market. The articles on this blog are based solely on my personal opinion on the charts that I read and readers should not take it as absolute.

11/12/2009

STI follow up

I do not really know what happen to www.blogger.com tonight. I simply can't load a single picture on my blog.

Anyway, STI is quite interesting at the moment. It has been rising this week, as high as 35 points at one day. But is it continuing its trend?

Okay, let's test out how good my English is now. STI is now meeting the resistance of 2,751,86. Moreover, there is an additional resistance of the wedge envelop at the same point. Seems like STI is having an up-hill task to break through the resistance.

As far as indicators is concern, both Stochastic and RSI are showing divergence on every highs. The showing of Stochasitc is more prominant than RSI. Thus far, I am still concluding that STI should be on reversal, that is unless it breaks through the resistance.

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