SgTraderClub Weekly Stocks Updates: STI Losing 2694 Key Support

Wednesday, November 23, 2011

STI Losing 2694 Key Support

STI did not continue its rebounce as I expected, the US bank test adds to bank woes(click here). The three local banks has dropped more than 1.5% as I'm writing now. DBS dropped to its three weeks low.

As a key pivot level, STI is losing 2694 support. The uptrend is over if it closed below this level today.

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