Just last month in June, we have seen the STI rebounded by more than 10% but then the 𝐒𝐄𝐋𝐋𝐄𝐑𝐒 𝐜𝐚𝐦𝐞 𝐛𝐚𝐜𝐤.. 😢
We had kind of hit a road block around the 2800 and that is where some heavy profit-taking happened again.
Joey here, Top Tier Remisier in Phillip Securities.
Over the past few weeks, it seems like we are seeing some weakness again on the back of some 𝐧𝐞𝐠𝐚𝐭𝐢𝐯𝐞 𝐧𝐞𝐰𝐬 𝐟𝐥𝐨𝐰 like:
a 2nd wave of Covid 19 infections coming, earnings, trade tensions between US and China etc.. 😷 🤜🤛
Sellers are using this opportunity to sell down BUT the thing is,
as we near some of these 𝐊𝐄𝐘 𝐒𝐮𝐩𝐩𝐨𝐫𝐭 𝐥𝐞𝐯𝐞𝐥𝐬, an opportunity may presents itself again.. 🤓
Buyers may start to return to Bargain hunt..
Check out what these levels are for any 𝐩𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐫𝐞𝐛𝐨𝐮𝐧𝐝 and ALSO WHY You want to be careful if this support breaks down.
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