SingTel has been trading above its upward sloping 20-Day Moving Average which is a good sign. In addition, the price just broke the resistance of 4.3 reinforcing the bullishness in the recent price movement. Ideally one would like to see an increase in traded volume to demonstrate the enthusiasm of the traders to push the price past this technical resistance level. However, there was a decrease in the traded volume in this breakout. Hence it is important to monitor the immediate price volume action to ascertain the validity of this breakout.
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Straits Times has tested the resistance of 3356.66 but failed to clear it. It is important to monitor the price volume action near this 3356.66 level to determine whether a breakout will take place.
Commentary Based on Daily Chart (06 Jul 2015)
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