Chart Source: Poemsview 1st May 2018
Straits Times Index had an amazing run since our POST on 18th April. It has broke our resistance of 3609 and made a 10 year high.
Our Straits Times Index currently seems to be one of the strongest market in the region so making full use of the strength is important.
Our banks the few blue chips which have been seem to lead the rally again with DBS reporting a good set of results on monday which sent the banks up making new high.
So whats next? Will this rally continue? Will our Straits Times Index continue its bullish run?
Its the start of May! Will the saying sell and go away in May come true this time round? Has it happened for the last few years?
Well, we will be having our quarterly market outlook very soon so do keep a look out for it . Ever since our previous outlook in Feb where we shared that the Straits Times Index could possibly hit 3600 and we’re there now!
For now zooming out to the 15 year chart, our next possible upside target might be 3688 and our support would be 3580 before we access the situation.
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