Wednesday, February 17, 2016

STI Direction: Profit taking seen as soon as it approach 2650.... now 2615

Unfortunately, we are seeing some weakness again with STI nearing the 2650 as mentioned in email.... A reversal back down again?

Sent: Friday, 5 February, 2016 10:18 AM
Subject: ************* STI Direction: 2530 level still holding for the STI..... May start to see some selling again as it head towards 2640, now 2596
We have seen the STI rebounded from the 2530 support again over the past few days, and yes, it is back to the 2600 psychological resistance level again. It has crossed above the 2600 several times over the past 3 weeks so nothing to be really excited about. The key now is the resistance at 2640 – 2650 which is has tried but still unable to maintain above a few days or even close above. We can expect to see some profit taking again or more CFD SELL positions to ride the blue chips down as it approaches this level. Long term trend is still down for now so those who manage to accumulate some blue chips on dips previously can consider taking some money off the table for Chinese New Year given the rally with have seen today and also the long weekend where anything goes. Gong Xi Fa Cai! , Have a great times with loves ones J

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