STI - consider sell into strength

Straits Times Index =1,852 (slightly above greenline at 1,849....consider sell into strength)

The STI made a technical rebound as expected, but we may not see much more upside from here; the index is currently still tracking a 6-day downtrend channel and is likely to face immediate resistance around 1840.

We see that the intraday MACD has made a bearish crossover and should the RSI fail to hold above the 50 mark, we could see the index giving up its gains in the afternoon session.