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Round and round it goes, who is the next to run?
 
Singapore

Straits Times Index
 
The rebound in the market from the doldrums from the bottom of 1455 on March 10th, 2009 was led by the property and financial sectors with each sector taking its turn to rotate higherand bringing the Straits Times Index to new highs. STI has been flirting with the resistance of 2400 for the past few times and with no bad news clearly seen within the horizon, it looks set to break this barrier. With ADX pointing down, it shows that the bull may finally decide to take a breather. With a well-rested bull, we look set for STI to break the 2415 resistance in the near future. However further resistance can be seen with the 2532 falling window. On the downside, STI looks to be nicely supported by the 20-day moving average. On a strong uptrend, 20-day moving average will nicely support STI and so far, it has not failed for the past 2 months. A strong support can be seen around 2267 with crucial support at 2120.
 
 
This article first appeared in Smart Investor, August 2009
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