Straits Times Index has been crossing key resistance levels in my earlier posts to reach 2954 (recent high) at 23.6%. (who says it's bearish then??)
Confidence among investors has returned with Singapore posting GDP growth above expectations and good Q2 earnings for companies. Despite recent noises from US, Europe and China.
Looking forward, it has formed the right shoulder which means possible reversal unless it can cross the 3,000 mark and exceed beyond previous high of 3,300...
Neckline at around 2,800 points.
Trade with care. Pyramid trading rule applies.. i.e. buy less when the price is high.
Disclaimer applies.
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