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Tuesday, January 13, 2015

Weekly Wrap

For the week ended 9 Jan. Weekly indices performance table:

STI immediate resistance level at 3365(YEC), support at 3250. It's trading above all three MAs(20, 50, 200ma), thus I'm bullish bias on Singapore market.

HSI weekly chart. Bullish bias.

Shanghai(SSE) hit 3400 last week and formed a shooting star candlestick which is a bearish sign. SSE may have come to retracement in coming week or two weeks, after recent surge. I think it's healthy consolidation to wash out weak holders, market should resume upside after short term profit taking completed.

 Consider iShare A50 ETF( 2823.HK) in HK market or A50 ETF (JK8) in Singapore to capture the bull run in China. I prefer iShare A50 in HK as the liquidity there is much more better.

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