Singapore: STI Index (.STI) saw red as the trade war between China and the United States threatened to spiral out of control
Asian markets saw red yesterday as the trade war between China and the United States threatened to spiral out of control, with both upping the ante. Bourses in Hong Kong, China and Japan all closed lower on the heels of Wall Street’s earlier US$1 trillion (S$1.37 trillion) wipeout.
With neither side backing down, all eyes are on the upcoming Group of 20 Summit late next month.
Noting that a 90-day truce had been called at last December’s G-20 Summit in Argentina, economists from UOB flagged the possibility of another ceasefire with US President Donald Trump and Chinese President Xi Jinping expected to meet in Osaka.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 3,291.31.
The projected lower bound is: 3,156.25.
The projected closing price is: 3,223.78.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 32 white candles and 18 black candles for a net of 14 white candles.
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 19.6883. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 7 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 33.11. 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 sell 6 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 -134.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 7 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 6 period(s) ago.
Rex Takasugi – TD Profile
STRAITS TIMES closed down -10.570 at 3,223.710. Volume was 8% above average (neutral) and Bollinger Bands were 36% wider than normal.
Open High Low Close Volume___
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 3,307.40 3,278.48 3,186.52
Volatility: 18 13 15
Volume: 224,792,672 213,257,488 216,504,432
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 1.2% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of .STI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .STI and have had this outlook for the last 2 periods.
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