Dear readers, in my previous post on how to invest in Singapore stocks next, I commented that should the STI ERTF break below the $3.165 support level, a longer downtrend of Singapore stocks in inevident.
As of 16 Aug 19, the STI ETF has already broken below the aforementioned support level to close the trading day at $3.146, but not without touching the support of $3.12. Hence, looking at this new support level, should the STI ETF continue to be below this $3.12 support level, it is likely that the STI ETF will reach for the next support level at $3.04.
In the near term, the Singapore stocks and the STI may head up or consolidate but looking at the chart of the STI ETF, the overall picture is not bullish for Singapore stocks and there are no macro reasons for investors to feel Bullish anyway.
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