Singapore: STI Index (.STI) possible trade talk friction
Most Southeast Asian stock markets fell on Wednesday as signs suggesting possible hurdles in U.S.-China trade talks curbed risk sentiment, while anticipation of the U.S. Federal Reserve policy decision also kept investors on the sidelines.
Bloomberg had reported that negotiators in the U.S. were
concerned that China – the region’s biggest trading partner – is
pushing back against American demands in trade talks. The report
comes ahead of another bout of trade talks scheduled for next
“Hopes for a trade deal between China and the U.S. was one key support to the recent rally but with reports indicating that talks had bogged down, investors retreated,” ING said in a note.
Broader Asian shares also slipped ahead of a policy decision
by the U.S. Federal Reserve with MSCI’s broadest index of Asia-Pacific shares outside Japan shedding 0.4 percent.
Meanwhile, business confidence in Asian companies has held near three year lows in the first quarter as the U.S.-China trade dispute dragged on, pulling down a global economy that is already on a downward path, Thomson Reuters/INSEAD survey found, further dampening investor sentiment.
Losses in real estate and consumer stocks pulled down the Vietnam benchmark index, which led losses in the region with a near one percent fall.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 3,266.13.
The projected lower bound is: 3,157.73.
The projected closing price is: 3,211.93.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 76.8626. This is not an overbought or oversold reading. The last signal was a buy 12 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 48.34. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 96 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -37. This is not a topping or bottoming area. The last signal was a buy 3 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 15 period(s) ago.
Rex Takasugi – TD Profile
STRAITS TIMES closed down -11.130 at 3,209.790. Volume was 19% below average (neutral) and Bollinger Bands were 30% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 3,206.64 3,214.21 3,185.92
Volatility: 9 11 15
Volume: 202,999,232 211,448,016 222,289,408
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
STRAITS TIMES is currently 0.7% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume out of .STI (mildly bearish). Our trend forecasting oscillators are currently bearish on .STI and have had this outlook for the last 13 periods.
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