13 Aug '12, 4am

STI is running the risk of uptrend reversal

Again, STI experienced a strong start for the week but test 3080 resistance level on last Monday. The strong start comes with easing of economic tension but the bullishness was soon to ease off. STI failed to break 3080 despite its attempts for 2 days in a row. STI started to retrace before the national day holiday after China announced with economic data. This sparked another fear that the slowing economy of China might affect Asian economies; this lead STI to return 15pts of gains and close near the closing of the previous week. The regional market was uneventful during the national holidays and this help STI to avoid further drop last Friday. Last Friday’s market action ended flat as market participants were adopting cautious approach. Last Friday’s night, DJI closed with 42.76pts higher. Will STI be able to retain the …

Full article: http://thefinance.sg/2012/08/13/sti-is-running-the-risk-o...

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