December 3, 2014
November, December are the school holidays for Singapore schools. Most of the parents will take this opportunity to take their kids for a holiday trip. You will see lesser cars on the road. As most of the parents either out of the country or taking leave stay home with the kids. Can this be the reason the price action for STI is weaken.
Besides that the price action is hitting a critical level. When the level is broken the price action shall move north, otherwise the price action may hover around the zone or drift south.
Chart worth a thousand words. Read everything you can find on the chart. MA, SR, ZigZag, and so on.
My view, STI is quite or near bearish bias at this point. Remember, all set up can fail. Trade what you see and not what other think. Have fun!
Singapore Stocks Benchmark, Straits Times Index, STI December 3, 2014 Daily Chart
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Thanks for visiting the site.
Moses
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