Right timing: STI may not hold at 200-day moving average

Quarterly momentum has made a simultaneous break below its equilibrium line. Immediate support is at current levels near the 200-day moving average at 3,423.

STI weekly chart
The weekly chart shows a gradual downturn by annual momentum, with its own weighted moving average turning down a well.

This suggests that the main uptrend is probably over. A break below the 200-day moving average may indicate a move to the early April low of 3,338.