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SG Market recap 01-August-2006

by Gav Leave a Comment

Let's have a look at STI (Straits Time Index)ended 01-August-2006. Yup, it managed to stay above moving averages support area after breaking recent downtrend line. STI in fact has made a higher bottom, this is the first thing I am looking for when determining trend change. Now I think, it is interesting to see if it is able to make higher high. With weak closing of U.S markets, Fast stochastics seems to be a little overbought, and STI is reaching recent resistance area, it might need a little bit more strength to go up further.

[photopress:STI_01_August2006.jpg,full,pp_image]

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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