SgTraderClub Weekly Stocks Updates: STI Momentum Update

Tuesday, August 16, 2011

STI Momentum Update

STI was selling off in the afternoon and ended with 42 points down at 2832.

The levels I'm looking for support are:

S1: 2824
S2: 2800
if it closed below 2800, I guess more downside to come, it may go down to test recent low 2720. Otherwise it may continue its rebounce towards 2900.

STI momentum for Monday and today: 49, 49. it indicates market is still extremely weak, and any time of rebounce is possible.

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