Weekly Wrap

For the week, STI surged spectacular 7.4% or 205.35 points to close at 2998.5, just beneath 3000 mark. Next level to watch is at 3060, which is its 50% fibonacci level as well as major support turn resistance level.

Other major markets in US and Asia rebounded strongly too. HSI next level to watch is 23600.
Shanghai index not breakout its immediate resistance level 3200 yet, more upside if it can close above this level in coming week, also a sign to confirm bottoming out for SSE.

The DJI index rebounded 3.7% for the week, crossed above its 50% fibonacci level. Market is more in bull's camp now.