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Singapore

Straits Times Index (STI) Analysis 26 May 2020; Staying NeutralCurrently staying neutral for STI. It is trading below the range EQ of 2689.97 and has not been able to reclaim this. This is bearish, which means every bounce should be shorted. However, it is trading above the Order Block (OB) EQ of 2517.52 – hanging by a thread. This is the critical point to look at: whether we reclaim this or lose this at monthly close. When monthly closes in the next few days it will give us a clearer picture. There are 4 scenarios we need to contemplate: 1) (High Probability) Lose OB EQ of 2517.52 -> potential swing short. Take Profit (TP) 1 targeting the EQ of the OB below us at 2318.17. 2) (High Probability) Reclaim OB EQ of 2517.52 -> potential scalp long. Take Profit (TP) targeting the range EQ at 2689.97. Do not stay in this trade for too long. 1) Market structure has broken down on the high time-frame, 2) we are trading below range EQ, so this is a counter-trend move. Hop out of the trade if it is getting uncomfortable; don’t be too fixated on hitting the TP. 3) (Low Probability) Monthly close reclaims range EQ of 2689.97 -> Swing long position. TP1 targeting the EQ of the OB above range EQ at 2919.34. 4) (Very, very Low Probability) Monthly close sweeps range low of 1473.77. This is definitely a long term swing long. Doubt it will happen in the near future.
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by Rilakkuma-San
1
STI - Singapore - poised to deliver 15 to 25% during next 10daysSTI finished a primary degree contracting triangle pattern that should initiate a long path upward from here. It seems to be tracing a 5 wave move up that will form a minor wave 1 pattern. Currently we should be beginning a minute impulse wave 3, the strongest of the impulse waves that should deliver from 14 to 24% returns up to the next 10-15 days. Price-to-book ratio also confirms the pattern. Time to catch it ! FOLLOW SKYLINEPRO TO GET UPDATES.
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DBS - Back at key levelsCurrent DBS is supported with a weekly strong bullish trend that is heading up to test the key support/resistance level. If market actually breaks out on this level, stock price will go back to test $22.6 - $23 level easily. Overall, It is expected to see price action to break the long-term trend with current economical issue. Not to include fundamentals, if market breaks the trend; Testing of $14 is expected before further downside of $13-$12. I write both at: www.patreon.com www.financialveracity.wordpress.com
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