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.

5/21/2015

Malaysian Ringgit strengthening

I have been busy the last few weeks, mainly work, and my partner at work arrange a training starting at 7AM tomorrow. I think he is crazy.

Anyway, back to Malaysian Ringgit. I have been observing this counter a few weeks ago. While the counter have ben climbing, its RSI seems to disagree.

Fig 1 SGD MYR weekly chart

In fact for every new high, the RSI is at a lower high. I got a feeling that we might be seeing a retracement coming soon, minimum support is MYR2.63.