EWS really going to do it this time it seems... close below the support line.
This is premature on the weekly chart, but heads up, two things to happen...
First, a close below the support means a breakdown underway, especially if it is accompanied with a lower low.
Second, there needs to be a late week rebound strong enough to get it back above support line. Then...
As previously posted, BEAR. The thing is, since the last post, the EWS (and other indices) made a sucker rally that pulled in the bulls. And a few weeks later, they burned.
This time, the burn is shown by a failed breakout that is followed through the other side. Technical indicators are now in full support as cross downs are registered. Critical supports are...
Just to highlight the Singapore going into technical recession]news first... that a technical recession is in the horizon, closer than we even realize.
Otherwise, the EWS SG Singapore ETF, is technically challenged, with imminent downside.
1. Lower high made, and a possible imminent lower low to come in the next weeks. Breakdown below the red line is a lower...
As expected previously, the Singapore STI (EWS) hit the first target range. It appears to have bounced off a bit in the short week (Friday is a Public Holiday, being Vesak Day). However, the technical indicators accentuate that there is more downside to come...
Breaking down below the support to form a lower low is confirmation for the lower target to be the next...
Multiple signals all aligned to much more downside in the Singapore STI...
1. A lower high. Watch for the lower low incoming!
2. Break out and then break back into the consolidation range. This is the second time, and expect an extrusion through the bottom of the range.
3. MACD lower high, and crossed down. Bearish oops, look from crossing down into bear...
Quite clear...
The EWS (tracking the STI, Straits Times Index of Singapore) pretty much topped as the MACD crossed down, with the VolDiv converging.
Looking for a reversion to mean, 5-8% down.
Watch the support level over the next week.
The Singapore bourse STI ETF, EWS, has a very ominous outlook for the next couple of months into the end of 2022.
Hyperinflation could be the current trending killer, but seems like more is likely to add on. Not sure what shoe will drop, but the charts tell it as it is...
April and May ended badly entering into a range that saw May break down of that range...
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...
This morning on the client messaging platform I also published my Active Trading Plan which included comments and levels on Sasol, BHP, Standard Bank and MTN as well as my Tactical Trading Guide for the top 20 names on the JSE.
Country ETF: iShares Singapore (EWS)
“With inflation and global yields rising, the market’s 48% exposure to the financials sector...
PA recently broke down below 200EMA
Despite short term bounce, looking for Revert to Mean Lower.
RSI >88 and PA struggling to recover 23 Level.
23/24 Bear Call with 22 Put for Directional Bias Lower.
Sept 20th Exp
Good Luck - Watch your $$$ RISK
