STI Chart update Feb 2012
Today I will be on leave till next monday. I guess I will some time to blog about the market. Above are the fib retracement and projection level.This show that 3000 is a very important resistance, my personal view, it will be increasing challenging to break above 3000. I was bullish on the market in Oct 2011 say that in the next 3 mths. This is written both in my blog and also in Shareinvestment magazine. ‘
written in 21 Oct 2011 in sharesinv (http://www.sharesinv.com/articles/2011/10/21/technical-outlook-52/)
“Straits Times Index (STI) has rebounded from the support at 2,650, and in my view, this is an important support. By looking at the very positive momentum, STI may head towards resistance at 2,920 -2,950 in the coming months. STI may correct if it reaches this level before breaking the resistance. If the resistance at 2,920 is broken, we may even see 3,200-3,300 being tested. However, one may consider selling at the resistance when it reaches this level. My view is that the STI may not be able to break the high of 3,300. STI may test the 2,920 resistance by early 2012 and 3,200 by mid-2012, after which, STI may pull back to a low by end 2012.”
Right I am turning slightly cautious as my personal view is that STI will not make a new high above 3300, even if it make above 3300 , it will not be sustainable.
However, saying that, this is my personal view and should not be construed a recommandation.
One should consult his financial consultant and understanding individual risk appetite.
Hi Collin
I can’t download your FEB 2012 client meeting slides from here after I click on the ” More From Collin Seow with the
finger pointing at the heading title.” How do I do it? Thanks.
Winnie 91141362
Hi winnie , you need to be on the client mailing list>>> you can sign up on the left middle part of the blog>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>