The STI has fallen below the 150 day MA on the 2 June 2015, out of the uptrend support line, and also out of the lower Bollinger Band. The MACD has also move into negative territory, indicating negative sentiment of the Singapore market. This morning, it is trading in a range of 3320 to 3333 pts. Immediate support would be at around 3290 pts. If STI does not move back up above the 150 days within the next 2 weeks, it could well indicate a longer term downtrend for the STI.
My prediction is that for most part of the 2nd half of 2015, stock market would be in a downward correction.
Monday, 08 June 2015 10:46 edwardmeow