1. Another week of consolidation for the Straits Times Index. The STI had been lagging the Dow Jones. There is still no clear direction of the forward movement. However, the STI continue to fluctuate within its long term 'Green trend line'. The 10weeks Moving Average (MA) had not moved up to cut the 40weeks MA. Technically, this still implies that the STI index is still bearish and we are not out of the woods yet. 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
