Following the showing of US stocks last Friday, Singapore stocks would likely open and close lower in today’s session. As earlier shared in regard to the STI ETF already broken below one support level , where I also mentioned that the STI ETF would reach for the next support at $3.04; I am of the view that Singapore stocks would continue to head lower, especially against the latest backdrop of the renewed trade tensions.
What is of significance is that the 20-Days-Moving-Average is about to cross the 300-Days-Moving-Average from above. The previous time when the two aforementioned averages crossed was in Jul 2018. This development is very bearish for the Singapore stocks markets.
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