1. The STI close down at 3,075 for the week. it did not managed to break higher for the previous 2 weeks. On a longer term, the STI is still below its long term 'Green trend line'. Currently, the 10weeks MA is trending down together with the 40weeks MA. From this observation of the charts, we might be in for some turbulence in the coming week. This implies that the STI is still bearish and will likely to trend down further. The previous support of 3,060 is likely to be broken in the coming week. The question now is how far below it is going to trend down before a recovery begins. The physiological level remains at 3,000.
For the coming week ahead:
1st Support: 3,060
2nd Support: 3,000
