Sense & Guts - Technical Analysis Headline Animator

Sense & Guts - Technical Analysis

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What is Technical Analysis?

Technical Analysis is the forecasting of possible future price movements based on the past or historical records. Like other forecasting methods, it is using the past to determine the possible future, although the result may not be 100% accurate but it helps investors to anticipate what is the possible price movements ahead.

Technical Analysis is used by many investors and fund managers. It helps them to determine the trend of the market and individual stock, as well as the timing for entry and exit in their investment.

Wednesday, November 26, 2008

STI - Where are we heading to?

STI has closed at 1653 on 25 Nov 08.

Currently it is supported at 1600, falling below it may see it moving towards 1500, next support will be at 1473 (recent low).

Its current resistance is at 1682 (Top Trend line). If it manage to break out of the resistance, we will see it moving towards next resistance at around 1750. Subsequent resistance is at around 1880 followed by 1980 which will be another strong resistance.

Although MACD is showing possible crossover and a bullish divergence. It need to clear the resistance at 1682 first.

As market is still fundamentally weak, any rebounce is likely to be short term. Long term indicator is still showing sign of weakness.
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