STI Index

STI Index - 16th July 2016

STI Index had managed to trade above the 200MA at 2825 and closed higher at 2925. This is generally quite bullish.

Both Macd & Rsi are still pointing upwards which may provide further indication that the Index may continue to head higher to test 2964.

With Dow market hitting new high at 18.5k level. This is generally quite bullish and local market may likely follow.

Short term wise , I think if it is able to conquer 2964 with ease then we may be able to see it rises higher towards 3000 then 3025 level.
( trade base on  your own decision)