India’s Sensex is testing resistance at 18000, while a sharply rising 13-week Twiggs Money Flow indicates strong (medium-term) buying support. Breakout would offer a target of 21000*.
* Target calculation: 18000 + ( 18000 – 15000 ) = 21000
NSE/S&P Nifty Index is similarly testing resistance at 5400. Target for a breakout would be 6200*.
* Target calculation: 5400 + ( 5400 – 4600 ) = 6200
The Singapore Straits Times index has broken through resistance at 2900. Recovery of 63-day Twiggs Momentum above zero strengthens the signal. Expect retracement to test the new support level, but target for the advance is 3200*.
* Target calculation: 2900 + ( 2900 – 2600 ) = 3200