The overall market seems to be stagnating and my view is that it is still on a range bound mode. Moreover, there are not much critical economical announcement coming out from the US markets this week.

Indexes

For the STI, it should be range bound between 3100- 3280 region.

Dow Jones seems to be still on an uptrend after breaching the 15500 levels but the climb up had been very muted and don't seem to have much conviction. Their resistance will be their recent high of 15650 and I am of the view it is likely to take a breather. It needs a break and close below 15500 before we will be comfortable to try to execute a range bound trade. Support will be first at 15400 followed by 15320. There is a very strong support at 15250 which is where the 60 days moving average is currently located.

Commodities

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