I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Monday, 19 December 2016
Straits Times Index (STI) continues to experience hangover from last week's US FED rate hike and Janet Yellen’s hawkish forecast. Currently, we are seeing the index in a retracing swing after touching 2,980.
STI will test its support at 2,880 – 2,900 level, a significant support for the index. It is a confluence of 3 technical support level.
Personal bias for STI to rebound from this crucial level (2,880 – 2,900) and retest 2,960-2,980 level. Alternate direction is STI continue to retrace and trades back towards recent low of 2,750 level.