Straits Times Index – Breakout of Range!!!

On Friday, the STI broke out of the range to the upside with strong bullish bar, signifying strong sentiment to the upside. Assuming we see some continued buying pressure on Monday, it is highly likely that the index will be gunning for the next crucial level around 3200, which is the previous swing high. This is not surprising given that the US indices already had bullish breakouts several days ago.

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Cheers
Spencer
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