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Saturday, September 21, 2013

Weekly Wrap


For the week, STI added 117 points or 3.8% on the top of my list below, closed at 3237.53. whereas Shanghai index dropped 44points or 2% this week( only 3 trading days as Thu and Fri closed for holiday), closed at 2191.85. SSE added 96 points or 4.5% in previous week.


STI hit its previous major resistance level at 3265 this week, and resisted. It dropped 14 points on Friday(not shown in below chart).There is a big gap of 48 points between 3193-3241, it might fill the gap if continue to retrace.


Also, both HSI and SSE are at their respective resistance level, with limited upside. The indices are expected to retrace or sideway in coming week.


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