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 3.97 reinforcing the bullishness in the recent price movement. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence giving a higher probability of a successful breakout.
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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 3372.34 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 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.
Commentary Based on Daily Chart (22 Jan 2015)
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