STI INDEX:
$STI-SES Singapore Stock Market Monthly Update. Since June 2009, the Singapore stock market has been in a consolidation pattern between the low region of 2528 and the high regions of 3548. This monthly update will analyze the market to see the current state of the market.
Below is the MONTHLY STI index based on esignal chart:
As you can see, on June 2017 it tried to break the resistance level @ 3252.18. This month, that resistance still maintains. Be cautious as the Monthly is still in a consolidation pattern. It has a higher probability to be bullish after another month in August 2017, if it maintains this bullish direction.
Let us look at the Weekly chart. Below is the Weekly STI index based on esignal chart:
By zooming in to the weekly chart, we can see that price had broken the Monthly resistance @ 3252.18 in the week ending in 9 June. However, the following week saw that price close below the M resistance. But the final week of June saw price tried to push above the M resistance of 3252.18 but failed. It will not be anymore bullish unless it breaks this current resistance level. Notice price since April 2017 could not break the tenken sen.
Next, we head down to the Dialy time frame. Below is the Daily STI index based on esignal chart:
Daily shows a strong bullish movement with a minor pullback on the week ending in 23 June 2017. It is in a trend continuation mode. Momentum broke free but on the last day of June 2017, Prive dropped and caused the momentum to turn from bullish to neutral.
Nikkei 225 INDEX:
$N225-NKI Japan Stock Market Monthly Update.Since April 2013, the Nikkei 225 has been trending bullish and only did a minor pull back in 2016 but broke the critical monthly support (17901) in Nov 2016. Since Dec 2016 it has been hovering for 5 months unable to break an iMTF™ resistance at 19295 that is until May 2017, which it managed to break the iMTF™ level. It then broke the Monthly resistance on 19601 (pivot high) on May 2017. As of June 2017, the Nikkei continued its bullish movement, not surprising as it had overcame an iMTF™ level in the month of May. Its next target should be the 20956.81 level where the M resistance is.
Below is the Monthly chart provided by eSignal:
Weekly is bullish and has managed to stay above the M suppport for 3 out of 4 weeks of June 2017. Price has now room to move as the next major resistance is at 20956.81.
Let’s look at the Weekly chart. Below is the Weekly chart provided by eSignal:
Daily has been in a consolidation pattern since Dec 2016. May 2017 saw price breaking the high of the consolidation around 19992.93. It then maintained to hover around there falling back quite a number of time but quickly recovering. Price has now room to move as the next major resistance is at 20956.81. However, if it continues to consolidate at current level for the 1st week of July, there could be a possibility of a pull back.
Let’s take a look at the Daily Chart provided by eSignal:
Bursa Malaysia KLCI INDEX:
$200-FTSB Bursa Malaysia Stock Market Monthly Update.Since Sept 2015, KLCI has done a major pull back into the cloud and has been consolidating from there ever since. Last month (June 2017) price was held by an iMTF™ resistance for the second time at around 1771. The bulls will have high probability (due to momentum) after August 2017 if it maintains a more horizontal movement.
Below is the Monthly chart provided by eSignal:
Weekly has been in a consolidating pattern since September 2015. Weekly price has been managed to climb above the 1771 iMTF™ M resistance. With price closing below the Flat Tenken Sen, there could be a possibility that price may bounce between Wk TS and KS. It will bounce between this two levels until one gets broken.
Let’s look at the weekly chart provided by eSignal:
Daily price has tried to be bullish but ended up moving side ways between 1796 and 1760. Momentum for Daily on the month of June has become from Bullish to Neutral. Daily’s higher probability to be a Bullish trade is getting less.
Let’s look at the Daily chart provided by eSignal:
For educational purposes only. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. View our full risk disclosure: https://www.ichimokutrade.com/c/disclaimer/
