Saturday, October 21, 2017

Singapore Straits Times Index - 3427 Level

As the STI climbs higher and further, I am searching for a top where the sellers would be looking to short sell and I found the 3420-3427 level to be a very convincing short term top where I would let go all my longs there. It's a top that I can see sellers looking to unload and it's an area where I would look for opportunities for short selling. Look at the line drawn in the daily chart, that's where the selling first started back in 2015. It was a huge fall from there on and it was a scary drop. The next 2 years STI recovered and 2018 is going to be a volatile year from here on. We shall need to embrace volatility ahead and short term trading is the way to go. I would not be doing any form of long term investment at this critical stage.

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