US markets has been on a general uptrend since Feb this year with both Dow Jone and S&P 500 breaking new highs recently. However, SGX market has been rather quiet with it trading sideways for about 3 months already since April. Current we are seeing strong support whenever STI touches the 3220 level where buyers will enter to bargain hunt and bring the index higher back up. After 3220 would be 3180 which was holding really well in April. Sti will most likely continue to trade within this range with a resistance formed at 3310 currently where sellers start to emerge for blue chips and banks. Can consider accumulating some good blue chips on dips when STI dips near the 3220 level to ride the rebound phase. Only the upside breakout above 3310 will be a positive for the whole market to move higher to 3350 then 3400…… hopefully after the world cup ends…. J
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