STI (EWS) in Primary Downtrend (TD Sequential)
The Singapore Straits Times Index (STI) is in a primary Downtrend.
This is observed and concluded from the TD Sequential analysis.
Referring to the monthly chart for the STI ETF (EWS)...
The EWS in recent months had broken down hard, and bracked below the TDST support line within the downward TD Sequential. Now, typically, this series is called the Buy Setup, as it "times" the downtrend for a reversal. The reversal came in a short month (9th candle), and the following month (August) closed with a candlestick bearish in close, and also bearish in pattern where there is a long top tail that is at least twice the length of the body.
Monthly technical indicators are bearish too, although not extremely.
The next couple of months should see the EWS, and STI move lower. A very critical support is about 16.5-16.6, where the lows of the GFC and the Pandemic routs align a supporting trendline.
BEARISH Wave!
This is observed and concluded from the TD Sequential analysis.
Referring to the monthly chart for the STI ETF (EWS)...
The EWS in recent months had broken down hard, and bracked below the TDST support line within the downward TD Sequential. Now, typically, this series is called the Buy Setup, as it "times" the downtrend for a reversal. The reversal came in a short month (9th candle), and the following month (August) closed with a candlestick bearish in close, and also bearish in pattern where there is a long top tail that is at least twice the length of the body.
Monthly technical indicators are bearish too, although not extremely.
The next couple of months should see the EWS, and STI move lower. A very critical support is about 16.5-16.6, where the lows of the GFC and the Pandemic routs align a supporting trendline.
BEARISH Wave!