Elsewhere, quarterly momentum rebounded to its declining moving average and just short of its equilibrium line, before retreating.
The US Federal Reserve’s Federal Open Market Committee committed to keeping the Fed Funds Rate lower for longer. Against this background, Asian markets stayed steady. The Straits Times Index ended the week at 2,497, up 7 points week-on-week, but not before touching an intra-week low of 2,476.
Short-term stochastics continues to fall and is approaching the bottom of its range. This may get sufficiently oversold during the week of Sept 21–25 to trigger more of a bounce. The bounce could also be supported by ADX which has flattened as the DIs turned neutral.
