Market View
On the daily and weekly charts, the Straits Times Index has shown a bearish divergence between the RSI and underlying prices. This has foreshadowed some near term weaknesses ahead. However, the longer term perspective remains bullish. As a matter of fact, the index has just turned bullish with a fresh mechanical buy signal ( referred to longer term ).
Labels: Market Direction
posted by Market Wizards @ April 25, 2011
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