SingTel TAs Wise Update

The fact that we use TA is to neutralize our emotion against speculative noises. And if we have no confidence of ourselves and talk too much of this”if” and that “if not”, we might as well play by our ears!. The case in point is this morning, a shrewd momentum trader could have benefited from the range of 4 ticks from (2.45 to 2.49), if he believed yesterday’s good TAs!.
That being said, let’s analyse today TAs!
The TAs have certainly deteriorated. Many –ve points now surfaced. A volume surged and ended with a lower closing price smelled trouble is near. RSI in danger of overbought with plunging curve. Both OBV and the long wick on top of the candlestick evidenced that the bear is now in control. I still do not have my Golden Cross of the MAs that I was asking for so as to reconfirm its upside sustainability.
In balance the MACD envelope is still standing tall against its preceding one and the ADX still upside along with the D still positively placed.
Conclusion: Neutral in short term.