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Saturday, August 9, 2014

Weekly Wrap

For the week, US three major indices recovered a bit after previous week bloody sell-off. The week-ended close had little change across all markets.
SSE and HSI had a pause after previous two-week surge up. I continue look bullish on Shanghai and Hongkong.
Whereas for STI, it gave back its previous three-week gain in one week heavy sell-off, the index lost 55.53points or 1.7% this week ended at 3288.89. Immediate support level at 3280-3260 area, the uptrend looks intact for now at its weekly chart below.

Hang Seng support 24000, resistance 25000. With bullish bias.

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