STI Weekly High Probability Trade, Straits Times stocks market benchmark, STI weekly analysis. Which way the market is heading tomorrow and for the rest of next week? Up, down or sideways? Does anyone know? The true is “don’t know!” But, for Chartist, the chart tells a story. The chart can provide you with a higher probability where the price or index might move next. Remember just “higher probability”, it is no absolute.
Before the index can move higher and further, it has to pull back first to build enough ‘energy’.
Let see what the chart tells us so far. But the prediction is purely the author opinion.
If you look at chart more closely, you should spot some critical levels (support and resistance zone) to watch. You may also recognize some chart pattern. In this case an inverted head and shoulder or bullish head and shoulder are forming.
But remember, many successful traders keep their trade simple; using such as moving averages and support and resistance.
MACD is just added information. MACD is trend following tool and is also a momentum indicator. It can use to spot the change of price and index direction. MACD provides you more clue for the next price or index change.
Trade with caution, plan your trade and trade you plan. Time your entries and exits. Cut-loss if the market goes against you.
Disclaimer
The information presented here is for illustration purpose. It is not meant to be used for buy or sell decision. It is solely the author analysis and opinion about the market. We do not recommend you trade base on what you read here. If particular strategy, technique, trigger are mentioned, they are meant as demonstration how it being used by some trader and investor.
Trading in any financial instrument such as stocks, options, indices, currencies and future are personal and involve risk and should not undertake without learning from professional traders. Readers may carry out trading based on what they learnt, but all risks and potential financial losses are the readers own responsibility.
Once again, the website does not guarantee any results or investment return based on the information and instruction you have read here.