Singapore stock market is having a good run. The index is now 6.8% above its 50 day moving average.
From the phase chart, we are now in “Recovery” mode. The index has moved into “Recovery” mode 4 times since it went into “Bearish” mode in the beginning of Jan 2008.
The index is facing resistance level of 1780. We have not seen such strength in the market for a long time now. Hopefully it can clear this level and proceed to test its 200 day moving average.
From the phase chart, we are now in “Recovery” mode. The index has moved into “Recovery” mode 4 times since it went into “Bearish” mode in the beginning of Jan 2008.
The index is facing resistance level of 1780. We have not seen such strength in the market for a long time now. Hopefully it can clear this level and proceed to test its 200 day moving average.
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