SingTel has been trading above its upward sloping 20-Day Moving Average which is a good sign. The support and resistance level of SingTel are 3.69 and 3.78 respectively. The indicator analysis on RSI is not exhibiting any extreme condition. Watch out for the 30% and 70% levels which indicate any oversold and overbought condition respectively.
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Straits Times has been trading above its upward sloping 20-Day Moving Average which is a good sign. This has brought the price near to the resistance of 3260.14 where we expect a good fight between the bulls and the bears. For the upside to continue, the resistance needs to be broken conclusively, preferably with high volume. The RSI indicator is giving a reading in the overbought region. While this is expected given the recent upward movement, it also gives a warning that the current movement may be over-extended.
Commentary Based on Daily Chart (16 Apr 2014)
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