Straits Times Index=2,526 (another 43 points to cover the gap and reach yellowline support). At the moment, the 2542 low is acting as support. Beyond 2542, support is in the 2500 region, then the 2450 to 2424 region.
Immediate momentum is likely to have a bias to the downside, however, the trend still seems to be in tact at the moment and the possbility of another leg up towards 2700 is still in the cards.
Our view remains the same, namely, immediate momentum has a downside bias, but the uptrend is likely to still be in tact. We need to see how the STI reacts to the 2500 level should it clear 2542. What we are looking for is signs of an intra-day base in a region of heavy support.
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