Despite breaking out of the kumo, STI may be hitting resistance soon. 1. Resistance level from Chikou Span is around 3201.65 2. There is a high possibility that it will retrace.with support at 3124 and 3063. Target timeframe : 2 months for retracement. Note: Singapore election is just around the corner. Take care.
STI Â Update : STI has reversed and breakthrough the Tenkan sen support 2 days back. Yesterday, it did not manage to stay above the Tenkan sen but is hovering around it. Support level to watch : 1846 level.