Straits Times Index - Early Sign Of A Technical Breakdown

 

Straits Times Index - Early Sign Of A Technical Breakdown

This week, we are beginning to see a small crack in the STI uptrend after a stellar March-April price surge, it has spent the last four weeks consolidating in a narrow range between 3,134-3,145 and 3,211- 3,221. This week weakness it broke the support at 3150 and it also broke the support provided by the 200 Days MA . This leaves the market vulnerable to further weakness in the coming session, with the breakdown pointing to a downside target of 3,019.

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