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The STI has seen a good rally, we even made a new high a couple of days ago, but I don’t think it’s because of this news =)
But that 3350 is not considered broken through yet.
We have a couple of new setups to watch, one long and one short.
Take a look at how we use a systematic process to identify trading setups quickly and accurately,
We’re now testing the previous swing high at 3350
Looks like we have more upside coming.
Looks like we will get a signal soon.
Keep your eyes open.
Still looking strong.
Be patient and follow system.
This is a short setup, do note that the STI has been heading higher and can continue further if it can clear this 3350 level.
On SIA Engineering, the 3.20-3.30 level has been a major support level for many years since 2010
Usually we would see a quick rejection when price tests this level.
This time however, we see price stuck in this area without buyers jumping in.
Price has recently just reset the signal with a couple of blue candles.
First signal was a very strong down move.
That triggered two weeks ago, since then price has been making a very slow retracement.
The trade still looks good, if this major level breaks, we could see a move down to 2.90
It has broken out of a 6mth consolidation.
This is the second valid signal, which is more convincing than the first signal, because this one broke the resistance of the past 6 months range.
Around 2.20 is the first target, followed by 2.28 then 2.40 and 2.70
If these setups excite you, find out more about how you can quickly and easily find such setups,