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Monthly Update – July

Home / Blog / Monthly Update – July

My Views

STI Outlook

2015Jul-STI-800x600

Resistance 2: 3,467

Resistance 1: 3,357

Support Broken (9th July): 3,267

Support 1: 3,201

Support 2: 3,150

From my recent update, in STI Gapped down,

“STI gapped down yesterday. The following week is critical. If the gap is covered, uptrend remains. If there is a breakaway gap confirmation, 3,378 region will be tested and trend reversal.”

Uptrend line at 3,378 region was broken and fell below 3,357 support.

STI is trading sideways in a range between 3,267 and 3,357.

It is key to note that STI did not break 3,267 support with confirmation.

Going forward,

STI will consolidate sideways in a range. If STI breaks through 3,267, it forms a downtrend.

3,357 has formed a strong resistance.

REITs

I am currently improving my excel spreadsheet to include the key factors I use to filter REITs / Trusts.

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