Good evening. We seem to have hit some form of impasse here. The STI is still trading sideways and to be honest, it is pretty frustrating. 3032 is still very heavy resistance, with strong support at the previous low pivot at about 2910. Intermediate support is at 2950 (the 50day moving average). Momentum has also drifted sideways, but the MACD lines are still above zero, so the bias is still towards the bullish side for now. With so much uncertainty, it is not surprising that most people are at the sidelines.
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