Current STI support at 3120. For the next few weeks, it should be range bound from 3120 to 3220. A break below 3120 may see it drift further down to 3040 on 2nd support line. MACD, RSI all look flat. Year end coming and most traders already on holiday. If nothing major happens, it will stay this way until new year.
I pick a dip in sti index as the north - south korea love hate relationship will shake asia stocks. therefore, we should take a conservative approach in the coming weeks.
ReplyDeleteAgreed with you.. currently nothing much to look forward to. 2011 reporting season will be a good indicator on how the companies are performing and from there maybe we will get a new rally. But for now.. its quite flat.
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