An important development took place on 5 February 2016 where the price of SingTel broke the resistance of 3.53. 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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The support and resistance level of Straits Times are 2540.71 and 2644.68 respectively. It is observed that the MACD line of Straits Times is below the centreline indicating some degree of weakness in the price movement.
Commentary Based on Daily Chart (05 Feb 2016)
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