1. Despite the positive data from China and US corporate earnings, the STI do not exhibits significant upside movement. From the chart, the STI continue to fluctuate within its long term 'Green trend line'. The 10weeks Moving Average (MA) is still down and had not move up to cross the 40weeks MA. Technically, this still implies that the STI index is still bearish and we are not out of the woods yet. We will continue to monitor for the 10weeks MA to flatten out and turn up. No changes to the last week forecast as the Index is still in range bound.
2. For the coming week ahead:
Resistance: 3,270
Support: 3,120
