Dear readers, the Singapore Straits Times Index is now at 3,198.68. And when the Singapore stocks markets open later, I believe Singapore stocks here will generally trend down since US stocks closed lower yesterday. Singapore stocks markets generally takes leads from the bigger stocks markets.
The Straits Times Index (STI) ETF (ES3.SI) is still experiencing a strong 200-Days-Moving-Average resistance and is currently below this moving-average. The slope of the 20-Days Moving Average of the STI ETF is still negative. I believe in the near-term, the Singapore stocks markets will generally trend down in line with its regional peers with the spotlight on the outcome of the Covid-19 development.
Investors should await clarity and continue to accumulate your investing warchest to take opportunities when there are in the stocks markets.
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