Dear readers, it has been some time since I took a look at the technical charts of the STI ETF so as to forecast the direction of the Singapore stocks moving forward. On looking at the STI ETF technical charts, I have an important technical indicator to share with All of You. As you might have known, Singapore stocks are slowly and gradually making a rebound though it may not be that evident from the plethora of Singapore stocks with a mixed stock performance recently. After consolidating from middle Jan 19 to middle Feb 19, the STI ETF is now attempting to break above the 300-days-moving-average.
If the STI ETF manages to break above the 300-days-moving-average, I believe the STI ETF would rally for a while. Else, the 300-days-moving-average would then serve as a resistance, capping the STI and the Singapore stocks it represent for a longer period. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.
