The STI made a very strong push up today. After closing slightly above previous support/resistance of about 3076 yesterday, it gapped up at the open and powered its way past another support/resistance line of 3113 to close at 3120. Momentum is up, index is above both the 50-day and 200-day moving average lines and both trendlines are turning up. This looks to be a good time to buy blue-chip counters on dips. The falling trend-line looks to be the initial resistance at about 3150, next resistance looks to be around 3180. Initial support is at 3110, next support is at 3080.
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