The markets heading into 2017 look really exciting.
The STI is still inside the large range, unable to clear above the 3000 level still.
But there are so many things happening on the global economic scene going into next year.
More drama on the political stage as well, which will cause more market volatility.
You can always catch up on the latest news at www.bloomberg.com, or follow us on Facebook to read the more interesting bits!
Broke under 2900, bounced off 2860 and now we see 2900 acting as resistance.
Holiday season still, don’t be in a rush to jump into trades now.
Still hovering in this area, have patience, follow the system.
This is what real trading is, you’re either waiting for a trade setup to trigger or you’re waiting to take profit or waiting to get stopped out. Train your patience and follow the plan.
Has since dropped under $9 and finding some support around the $8.88 level.
But now $9 is acting as resistance, just like STI’s 2900 is now acting like resistance.
Following up because this $8.88 level looks like it could launch price higher.
Waiting for signal.
It’s still hovering around this area, but not dropping too steeply although STI has dropped a fair bit.
Still sitting on that $0.84 level, not for long I think. Follow system, have patience.
Candles just turned red.
It’s struggling up here, we need a move higher soon otherwise we’re rolling over.
Didn’t drop too much when STI was falling, which is generally a sign of underlying strength.
This is the last blog post for 2016.
I hope these articles have been helpful in your trading journey this year.
We aim to provide you with even more value in 2017 so do keep your eyes open!