Wednesday, May 3, 2017

STI : A Quick recap - New breakthrough above 3200 can see the bullishness continue, STI 3228.

Following up from previous blog post on the entire market on 10th Feb 2017 >>>

I mentioned that we were about to attempt a move above the key 3100 level where can see the bullishness continue further... 

Let’s take a look at the chart below that was shown then.

For illustration purpose only

After 2 months has passed, we can see that target has been hit and we have touched the 3200 level yesterday as per the arrows drawn in the above chart.

Finally, with banks leading the charge, we have seen the STI crossed above the key 3200 convincingly yesterday and pulling upwards further today.

As long as STI holds above 3200 now, we can be still in for more upside. 

Moving averages are still looking positive on this move with uptrend intact for the market since the beginning of the year.

What are the next levels to watch for the entire market?

Let’s see where we are on the chart right now.... See below! :)

For illustration purpose only

No comments:

Post a Comment