Straits Times Index – Losing Steam

• The FTSE STI is unable to hold above the 200-day moving average support and is showing sign of reversal to test the next support at 3142. A break below 3142 could trigger a test of the next support at 3090.
  
• The STI currently sits below the 200 days MA but is above its long-term trend line support. A break below the long-term trendline support could result in prolong weakness of the index.
  
• The resistance is capped at 3227.

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