1. The STI has rebounded continuously for two weeks and close the week at 3,149. It is now nearly touching our first forecast of resistance of 3,159. The STI is still below is long term 'Green trend line'. Overall, the 10weeks MA is trending down together with the 40weeks MA. This still implies that the STI index is still bearish and will likely to trend down further.
The STI is likely to meet some resistance at this current level. No changes to the forecast ahead
2. For the coming week ahead:
Resistance: 3,159
Support: 3,066
