Chart Souce : Poemsview 8th April 2018
Straits Times Index had a good closing on Friday despite the weak sentiments flowing through. But the true test comes next week.
We’re still not out of the woods yet as the Straits Times Index hasn’t cross the horizontal resistance of around 3443 to cover the gap and to cross the next hurdle which is the downtrend line.
Friday night negative close on Dow Jones might see selling to the start of the week and our support for the STI would be around 3340 area.
For now we would be very nimble in the market, taking profit fast and cutting loss fast too. Never let your losses run as we might not know how far the downside can be.
US earnings are coming out this week couple with the ongoing trade war one would have to be fast and alert in this current market. Sentiments can turn around very fast so don’t be caught off guard.
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