In addition, the STI closed at the high of the week ahead of a long weekend on April 17. Resistance for the current move appears at 3,825. The STI ended the week of April 14-17 at 3,720.
The Straits Times Index (STI) is decoupling from the US markets based on the technical outlook. The STI’s quarterly momentum and annual momentum have turned up; ADX is neutral and the DIs have turned positive.
In addition, the index has regained its 200-day moving average at 3,672, a level that coincides with a minor resistance formed during the March 27 to April 17 volatility period.
