Quarterly momentum rebounded off its equilibrium line and this could provide a near term fillip. However the range is likely to be narrow between 3,190 and 3,286. The 50- and 100-day moving average remain positively placed.
SINGAPORE (Mar 16): The Straits Times Index drifted lower during the week and is now supported by the confluence of the 50- and 200-day moving averages at 3,204 and 3,192 respectively. A break below this level is unlikely as down-momentum is weak. This is evidenced by falling ADX which is currently at 15. The DIs are negatively placed. Short term stochastics is approaching the low end of its range.
