The Singapore Straits Times Index broke down through range support at 3120 today. Since the break of the long-term uptrendline (blue dotted) - a bearish development - this move down was in the works. Initial support may be provided by the bottom of the parallel channel(pink), followed by good support in the 3040 area.
In case of further bearish developments, an eventual target of 2900 will not surprise.
Posts
