Singapore Stock Market: Straits Times Index (STI)

Based on Fibonacci Retracement : STI retracing back to support level of around 3320 which coincide with fibonacci retracement level of 61.8%this level is also a 100% retracement level for the recent rebound which started on 22nd NOV Since 3320 coincides with TWO fibo retracement level, this should offer some good support levelof course nothing is 100% certain so have to watch out cos if 3320 level is broken, the next two support levels could be 3249 and 2962Based on Parabolic SAR :this indicator just turned negative two days ago…..not a good sign for nowusually parabolic SAR will stay negative from between 9 to 17 daysBased on multiple moving average (MMA) indicatorsThis is usually a medium to longer term indicator….sad to see that all short term MMA are BELOW long termm MMA so the medium to longer trend is still not good

Some people would say that MMA is a LAGGING indicator. but i dont use this as an “entry” signal but rather to give me a feel of the market so it is still useful for me

Cheers
Rooney