STI Technical Analysis: Breaking Key Resistance
Singapore Straits Times Index breaks through key resistance level with increased volume. Technical outlook is bullish.
Straits Times Index Technical Trend
The Singapore Straits Times Index (STI) recently broke through key resistance levels, with the technical picture showing a bullish pattern. Increased volume confirmed the validity of the breakout.
Technical Indicators
On the daily chart, the 50-day moving average crossed above the 200-day moving average forming a golden cross, and RSI is in strong territory but not overbought.
Target Level
Analysts believe STI is poised to challenge the 3,500 point level. Investors should watch the performance of banking and property stocks.