My last post on 31 May showed that Singapore Straits Time Index (STI) enjoyed a bull run so far. STI upward bull run was cooled off last week with a pennant like consolidation pattern. Finally, STI dived 2.61% downward and the upward trendline was broken today.
I posted yesterday a final verdict of correction is around the corner on Singapore Straits Time Index.
Indeed, a dark candle is formed today and the selling pressure is pushing the STI to close at this low today.
Let’s take at look at it now!
I was looking at Singapore Straits Time Index correcting downward last week,initially, I thought the immediate support would be 38% fibonacci support. Instead, the market was support well at 23% fibonacci support instead.
Can STI sustain the current bull run?
Let’s check it out.
The global stock market has been running on a bull upward trend in the past 2 months. I have mentioned last week that a market correction is expected and we need to trade with extra careful. The market correction day is finally come in both global stock market as well as Singapore Straits Time Index.
We shall look at the Singapore Straits Time Index today!
