Bullish SiMSCI
Wednesday, December 22, 2004
The SiMSCI Singapore Free Index has been moving up over the past few days after a plunge to 237.1 level on 9 Dec 2004. This morning it broke the previous high of 246.7 on 3 Dec 2004.
Is this "window dressing" for book closing?
Today, SiMSCI opened at 246.9, went up to 248.0 and closed at 245.7. Looking at the candlestick, one would suspect that the bull may be losing steam. If the support at around 245.0 holds for the next 2 days then the uptrend may continue otherwise the next suport is around 242.8. This will be a good entry point for a long position.
Is this "window dressing" for book closing?
Today, SiMSCI opened at 246.9, went up to 248.0 and closed at 245.7. Looking at the candlestick, one would suspect that the bull may be losing steam. If the support at around 245.0 holds for the next 2 days then the uptrend may continue otherwise the next suport is around 242.8. This will be a good entry point for a long position.
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