Dear readers, the Straits Times Index (STI) is now beyond the 2,700 level. To be exact, the STI is approaching the 2,800 level. From the recent support of 2,500 to the current 2,800 level, the gain is almost 12%.
Between optimism and fear in the development of the Covid-19 pandemic situation and the state of the global economy crisis, I would think the current resistance of the Singapore stocks markets in the near term is 2,800 for the STI. That means to say, it is hard for the Singapore stocks markets to cross beyond 2,800 in the near horizon.
As for the support, I will choose 2,500 which has often been cited as an important psychological support of the Singapore stocks markets. Thus, Singapore stocks will continue to fluctuate between the 2,500 to 2,800 level.
However, there is always a likelihood that the support of 2,500 be crossed down from above. And I believe there are many reasons for this. Monies are flowing to the stocks markets because of low interest rate environment but there are not many good reasons for the stocks markets to continue to be robust.
I do think it is not whether but a matter of when the decade-in-waiting stocks markets correction will come.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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