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Straits Time Index ready for next bull run?


Straits Time Index long term chart


Straits Time Index short term chart

Is Straits Time Index ready for next bull run? At this stage(7/4/09), it is still too early to tell. However for this rebound to have legs, Straits Time Index should not fall below 1658 to correct RSI overbought condition(from RSI value of over 70 to 50). Otherwise Straits Time Index will stuck between 1480 and 1930. Anyway, in order to declare the next bull run, Straits Time Index has to overcome a lot of resistance levels as shown in Straits Time Index short term chart. In the medium term, Straits Time Index will most likely fluctuate between 1480 and 2592 unless world economy recovers (V-shaped recovery).

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This entry was written by financial developer, posted on April 7, 2009 at 7:51 am, filed under Technical analysis. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.