Market Review and Trends
STI Outlook – As of 30th August 2020 (Special Feature S58)
By Loopholes Singapore  •  August 29, 2020

Fighting pessimism and delayed gratification

STI had a wild roller coaster ride in the past week, in fact, there were two attempts where STI failed to break into the lower limits of the parallel channel (shown below). It is obvious why many people are eager to make a profit and it is because prices rose very quickly on the morning of last Tuesday and Friday. In addition, there was also a growing concern of the FANG bubble growing to an unstable state and since STI corrects every time the US market sneezes, investors have become less ambitious when setting price targets. Having said that, Singapore has successfully restarted its domestic economy and is on its way to reconnect with other nations but it will still take some time before that can come into fruition. In this week’s post, we notice that STI is still in the state of sideways consolidation and has not shown any sign of recovery at the moment....
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By Loopholes Singapore
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