The STI Index closed higher for the week at 3,254. The STI continue to be consolidating within the range of 3,205 and 3,260. No big movement or definite direction and no change to last week views.
1. From the chart, the STI continue to be above the long term 'Red trend line'
2. In the immediate coming week, the STI may continue to be range bound within 3,205 - 3,260.
3. A strong break above 3,260 and stay above will likely see the index trending upwards.
4. As long as the current support of 3,205 is not broken, the index testing 3,300 again is likely.
5. For the coming week ahead:
Resistance: 3,260
Support: 3,205
