A short signal has been issued on the 05 may at 3158 targeting 3024 (weekly pivot). Profit taking at the moment has set a range between 3160 and the upside daily pivot at 3232.
Based on the STI Matrix, the banks and SGX has been supporting the index with some profit taking noticed in SIA, ST Eng, Venture, Wilmar as well as Ascendas REIT notably.
LONG TERM UPTREND SINCE 010321
MEDIUM UPTREND SINCE 071120
SHORT TERM DOWN TREND SINCE 050521
PIVOT 3232
Short positions below 3232 for 3024 and 2813
Long positions above 3232 for 3406 and 3664
youtube link : https://youtu.be/Aj-FYKtF3FI
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