STI trading so strongly today. This could be the reason why.
In my interview with Lianhezaobao, I mentioned that there seems to be funds flowing into oversold markets like Singapore, HK, China. Full article here: My interview on 14 Feb 2024 with LianHeZaoBao
After US CPI, the US stock indexes corrected fearing that investors might be too optimistic about the number of rate cuts for 2024.
This viewpoint was something that I discussed during my presentations in Jan 2024.
Today, $FTSE Singapore Straits Time Index(.STI.SG$ is trading very strongly up, 3130 support was not broken and now trading at 3165 at the time of posting.
What I said here in this article: Singapore Strait Times Index clearing key levels. More levels are revealed now for short-term trading.
To quote, these are the levels:
Today $FTSE Singapore Straits Time Index(.STI.SG$ is trading in the green in line with positive movement in regional markets.
If the resistance of 3180 is broken (that is there is a week close above this level), then the next resistance levels are 3210 and 3250.
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SGX Academy Trainer | International Speaker | Angel Investor | Automated System Developer | Made first pot Gold at 18
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