If you have been following the previous emails, we are now out of the aqua channel. So what is the next trend or movements to come?
Fundamental:
The recent comments from central bankers are dovish, but they assured that slow growth does not mean no growth. Perhaps this will somewhat spur equities a little.
Technical:
Looking at the chart, STI was above 3200 briefly for the past 2 trading sessions: Monday and last Friday. Both sessions closed lower, resulting in a wick on top of the 2 candles. This indicates that sellers are strong at this level of 3200.
perhaps buyers will come in to support at STI 3150, which is at the bottom of the previous hammer candle. This should serve as a strategic entry.
With that in mind, I might want to wait a while to see how it goes.
my 2 cents.
