Chart Source: Poemsview 29th Oct 2018
Straits Times Index fell to our planned area of 2985 from our previous post and fell further to around 2960. We’re glad that the Straits Times Index moved as planned and currently is sitting on the long term support line as drawn.
Will This support hold? Who knows right? But we’re seeing some signs of resilience and the 2960 levels seems to be holding. On Further examining, the Straits Times Index is currently being pinned down by the 5ema at around 3004. Until this can be broken then we might see some rebound in the near future.
Some points which we might see a rebound to might be 3031 and 3070 if the market continues to hold.
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