Warning that STI is about to turn!
Any day now, by the end of the week, the Singapore Straits Times Index (STI) is ready to turn.
Yesterday’s candlestick pattern looks bad, and note the red dotted line. This level was required to be exceeded IF it is to resume bullish trend, and clearly it missed by a big margin despite a spectacular run up.
2750 is the immediate support and breaking down means there is a closure of a previous gap, which is bearish.
Thereafter, the orange ellipse area is the next battle.
Meanwhile, there is likely to have some volatility up and down, so be cautious until breakdown.
Heads up!
Yesterday’s candlestick pattern looks bad, and note the red dotted line. This level was required to be exceeded IF it is to resume bullish trend, and clearly it missed by a big margin despite a spectacular run up.
2750 is the immediate support and breaking down means there is a closure of a previous gap, which is bearish.
Thereafter, the orange ellipse area is the next battle.
Meanwhile, there is likely to have some volatility up and down, so be cautious until breakdown.
Heads up!
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