Technical Analysis
STI Outlook – As of 11th June 2022
By Loopholes Singapore  •  June 11, 2022
STI is at a high risk of correction To say the least, run away prices of commodities are triggering a worldwide supply protectionism. Such rising concerns not only causes affordability concerns for consumers but also thins profit margins for almost all companies. Since money printing is no longer going to help the economy, the next step by global political leaders will largely determine how investors will react in the next few months. As for the Singapore market, I would expect a correction coming soon if there are more blows to the commodities market. STI – Updated Daily Chart I adjusted the parallel channel a little to accommodate Friday gap down and solid red candlestick. Though I am not going to bet on a clear cut bounce based on the prevailing technical analysis of the STI. STI – Updated Monthly Chart Unsurprisingly, the STI is back to the lower support levels as drawn on the monthly chart. Right now the...
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By Loopholes Singapore

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