SINGAPORE STOCKS MARKETS: IMPORTANT TECHNICAL UPDATE!

Dear readers, I would like to share with you an important update on the Singapore Stocks markets. I have used the benchmark STI to assess how the local stocks markets is doing right now. To be exact, I am using STI ETF, an ETF which tracks the STI.
The technical chart of the STI ETF is not really good. After climbing above the 300-Days-Moving-Average, the STI ETF has retreated and this means that the resistance of the 300-Days-Moving-Average is rather strong.

Not only that, the STI ETF is headed to an Oversold RSI region. I think there will be more selling such that the STI ETF reaches $3.10 support level.

Currently, despite some market correction, the Singapore stocks markets is still not cheap. This is because Singapore stocks are correcting off a high base set in year 2018. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.