Following up from previous STI Direction post: http://singaporetradinginsights.blogspot.sg/search/label/STI
STI has indeed neared the resistance at 3280 with a high at 3274 seen today….. It is likely to face key resistance around this level from 3280 downwards. May see the index in the range of 3250 to 3280 in the coming days before any further direction is make known. If STI index can really cross above the 3280 and finally 3300 as confirmation, we can start to see BUYERS coming in to take the index higher to as high as 3450. (Look at the gap that the market has created previously). If not we may also hit this KEY resistance levels and market can start to take profit and dip from here again where we can see support at 3230 then 3190.
Keep these levels in mind while trading………. J
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