Weekend roundup

What a week it has been with a retracement that people seem to be waiting for. The STI falling like dead birds but bouncing off to close with a nice white candle that’s similar to the HSI. The retracement level for the STI is at 38.2% at 2800 assuming a top at 2945 and a bottom at 2570. A break below 38.2% could see a 50% retracement, currently at 2750. Don’t we call remember that line? I do anticipate that to hold for a bullish continuation move for a fall below that level will be bear, similar to how the HSI has been. Watch for gap covering on a rebound till 2850 as seen in the chart. What I will be looking for is either a confirmation of the bullish reversal candle, or a violation of it which could see 2750 in play.

The HSI has been bear as mentioned but with a similar reversal hammer, let’s see how this goes. The first resistance would be at about 21000.

SIA Eng had a buy signal triggered and I entered it as a tikam with a 3.75 as a TP and a 3.45 as a support.

GoldenAgri has another bullish reversal candlestick similar to that on the STI and HSI. I have not gone in for this one, preferring to wait for confirmation as I have already gone in on others. I need to hedge my risks.

It should be an interesting week to see where the prices move. Keep a watch out!