For 18 Feb 2013 trading session, Singapore's Straits Times Index (FSSTI) has been trending sideway and managed to close marginally in positive. As mentioned on 5 Feb 2013, based on the weekly chart, although the overall uptrend remains intact, the weekly RSI has entered into a "critical" zone (From Mar 2010 onwards, the weekly RSI has been trending between the low of 30 to the high of 75). A possible market reversal is within expectation. The level of 3235 - 3240 may be the immediate support. FSSTI indeed trend downward but a Tweezer Bottom formed (Level 3254 on 7 Feb 2013 and 8 Feb 2013), saw the market rebound. The rebound however seem to be weak and lack of conviction and filled with uncertainty. Inside bar are formed on the weekly chart and increased in volatility may be expected in this week or two. Move above 3305 or below 3254 ......
