Weekly market analysis covering Singapore, US, Hong Kong and China — stocks, REITs, ETFs and trading perspectives.
Thursday, October 18, 2012
STI Capped at 3066 Resistance
As I was focuing on the levels( posted yesterday), STI hit 50% fibo level yesterday( day high at 3066.59) and retraced, it then bounced back into 3055-3066 range( 38.2%-50% fib) again today. Kind of sideway consolidation mode. In the short term, I expect more upside if STI can close above 3066( today high at 3063.55). Otherwise bulls should be stay alert for downside.
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