Dear readers, there is one Bearish Technical indicator which has shown up for Singapore Straits Times Index! An indicator which I am going to share with you right now!
As we all know, the Straits Times Index is the barometer of Singapore stocks and the performance of the Straits Times Index has long been tracked as the performance of the Singapore stocks moving forward. Closely related to the Straits Times Index are the Exchange Traded Funds which stocks the index and the more notable of these is the STI ETF (ES3.SI). I am going to tell you one Bearish indicator which has shown up for the STI ETF (ES3.SI).
As of 18 October 2019, the 100-Days-Moving-Average of the STI ETF (ES3.SI) has just crossed below the 200-Days-Moving-Average! The crossing of the aforementioned averages is traditionally considered to be Bearish for the Singapore stocks markets as it may confirm the start of a downward trend for the Singapore stocks markets! Just as a recap, the last time the 100-Days-Moving-Average of the STI ETF (ES3.SI) crossed below its 200-Days-Moving-Average counterpart in Jul 2018, and then the Straits Times Index went south quickly from 3,326 to below 3,000 in Oct 2018. However, the Straits Times Index managed to head up subsquently following the decline back in Oct 2018.
Against the current backdrop of increased geo-political factors, will the crossing of the 100-Days-Moving-Average of the STI ETF (ES3.SI) below the 200-Days-Moving-Average of the STI ETF (ES3.SI) signal the start of a longer downtrend for Singapore Stocks next?
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