STI at a crossroad - now needing a confirmation price action
Earlier, I posted a video on $FTSE Singapore Straits Time Index(.STI.SG$ at a crossroad (watch here STI at Crossroads: How to Trade with Strong Momentum & Historical Highs).
Update today with 2 charts.
Weekly chart: Price is near 3400 and a long-term trend line
Daily chart: Price action is showing bearishness near this resistance.
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A day close below 3320 is going to provide a more bearish tone to $FTSE Singapore Straits Time Index(.STI.SG$.
More about Doji candle:
A doji candlestick looks like a little cross (+), T, or inverted T. It shows that the opening and closing prices were basically the same, even though the price might have moved up and down during the day.
A doji candlestick looks like a little cross (+), T, or inverted T. It shows that the opening and closing prices were basically the same, even though the price might have moved up and down during the day.
Here's what it tells us:
Indecision: Buyers and sellers couldn't agree on a price, so the stock ended where it started. This could be a sign of a trend change coming, but not for sure.
Short-term pause: The doji doesn't tell you if the price will go up or down next. It's like a little breather in the market.
Possible hedging instruments:
Warrants: $SIMSCI 280MBePW240930(GIWW.SG$
Reminder: Watch the video on STI at crossroad here!!
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