The Singapore Budget 2017 came out yesterday.
There don’t seem to be any major changes.
The Singapore Government is still focusing on increasing corporate investment and improving labour productivity.
There will be more Government Spending as their revenue increases.
Here’s a Bloomberg article which summarizes the Singapore Budget.
Now let’s take a quick look at our positions.
Still testing the 3100
Still not the end of the ride?
Follow system, it reacted off $3.08 and moving higher.
If you did NOT take any profit before this(which is very unlikely), near here can consider take some profit.
Otherwise just sit tight and follow system.
Keep your eye on the STI as well, if we reject from 3100 then maybe you will want to exit this.
Just for the die hard OCBC fans who are still on this trade.
Our entry was just above $9.20, so exiting anywhere will still result in a profit.
Doesn’t look good under $9.35 so do watch out.
Be patient, follow system.
No signal yet, KIV for now.
We are reacting off previous resistance around $1.455-1.475
We’re really testing that $0.96 but take note that it’s not good if it goes under 0.93
In the mean time, all we can do is be patient and follow system.
MM2 is still hovering here, holding above the previous swing high so that’s good.
Hong Leong Asia
Follow system on your remaining half position.
Let’s follow the system and see where it takes us.
Still climbing higher.
Be patient and follow system.
We could see previous high at $0.90
That’s it, not a lot going on.
Good trading folks!