Support Level at 2500 held and US GSPC has broke 3000 resistance

Last week STI was trading at a crucial level of around 2500, in fact, it did briefly drop below 2500 on Friday. This is peculiar because US indices have not shown any significant weakness hence there is an expectation for STI to at least be mildly green as well. With Singapore restarting parts of the economy on Monday, investors would expect to see a positive reaction on STI, this is in addition to the 33 Billion 4th budget (Fortitude) that the Singapore Government has announced last week to provide continued support even after the circuit breaker has ended.

STI – Daily Chart

I deliberately included the volume of last Friday’s trading to show the significant...