The STI ended the week at 3,416, down just 8 points. During the week, it touched a high of 3,468. As such, the continuation pattern persists.
The consolidation is further underlined by falling ADX and DIs positioned mildly negatively. Short term stochastics is falling and in mid-range. Quarterly momentum and the moving averages continue to rise. Of note is the rising 50-day moving average which has acted as an uptrend line, and is now at 3,387.
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