STI weekly chart - week ending 21 Feb 2014

1. The STI close at 3,099. This is around the estimated technical level we forcast during the week ending 09Feb. It may encounter some resistance as it is touching the 10 weeks MA.

2. Generally, the STI is still below its long term 'Green trend line'. The 10weeks MA is trending down together with the 40weeks MA. This implies that the STI is still biased towards the downside.

3. For the coming week ahead:
Resistance level: 3,150

STI weekly chart - week ending 07 Feb 2014

1. The STI retrace the loss for the week and close slightly back up at 3,013 for the week. The STI is technically oversold. There should be some bounce up towards the range of 3,050 - 3,100 but the extend should likely be limited.

2. Generally, the STI is still below its long term 'Green trend line'. The 10weeks MA is trending down together with the 40weeks MA. This implies that the STI is still biased towards the downside

3. For the coming week ahead:
Support level: 2,950

STI weekly chart - week ending 31 Jan 2014

While we are celebrating the Chinese New Year and the mood is high, it is exactly opposite in the stock market.

1. The STI close down at 3,027 for the week and reaching its physiological level of 3,000. If it go below 3,000, it will be paving the way for more down side. Generally, the STI is still below its long term 'Green trend line'. The 10weeks MA is trending down together with the 40weeks MA. This implies that the STI is still bearish and will likely to trend down further.

2. For the coming week ahead:
1st Support: 3,000
2nd Support: 2,950

STI weekly chart - week ending 24 Jan 2014

1. The STI close down at 3,075 for the week. it did not managed to break higher for the previous 2 weeks. On a longer term, the STI is still below its long term 'Green trend line'. Currently, the 10weeks MA is trending down together with the 40weeks MA. From this observation of the charts, we might be in for some turbulence in the coming week. This implies that the STI is still bearish and will likely to trend down further. The previous support of 3,060 is likely to be broken in the coming week. The question now is how far below it is going to trend down before a recovery begins. The physiological level remains at 3,000.

For the coming week ahead:

     1st Support: 3,060

     2nd Support: 3,000