The STI has been entrenched in a tight range since for 4 weeks between 2783 and 2872.
The short signal issued on the 301120 at 2841 targeting 2767 is still VALID.
PIVOT 2872
Short positions below 2872 targeting 2783 and 2668
A break above 2872 will target 3108
The Straits Times Index (STI) retraced -0.56% (-15.93 points), implying the play of the weekly Bearish Shooting Star candle highlighted last week. This retracement also coincide with the gap resistance zone of 2,900-2,960 levels.
However, STI have exhibited its first major moving average golden cross (50DMA vs 200DMA) which was last witnessed in March 2019. The...
As predicted in our post of April 6, STI finished a primary degree bullish triangle and is now trending up. It seems to have finished wave ii and entering wave iii up. The most probable target is at the 3,240 level, which would total 27% of gains in around 2-month period. We may revise this analysis if prices cross down 2,480. FOLLOW SKYLINEPRO TO GET UPDATES.
STI finished a primary degree contracting triangle pattern that should initiate a long path upward from here. It seems to be tracing a 5 wave move up that will form a minor wave 1 pattern. Currently we should be beginning a minute impulse wave 3, the strongest of the impulse waves that should deliver from 14 to 24% returns up to the next 10-15 days. Price-to-book...
STI finished cycle wave 4 and it is now tracing the initial stages of cycle wave V , which could offer up to 150% of gains during the next 3 to 5 years. This scenario should be reviewed if prices crosses down 2,180. FOLLOW SKYLINEPRO TO GET UPDATES.
