Looking at the technical chart of the STI ETF (an ETF which tracks the STI), the STI is still currently Overbought (with RSI above 70). Next, looking at the stocks candlesticks chart, I noted that a resistance formation seems to be forming at the STI ETF price of $3.36 and the height of the stocks candlesticks is also not encouraging either.
I believe the Singapore stocks markets will consolidate for now with selective stocks performing in line with the set of earnings results to be announced in this earnings season. 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.
