(Updated 13/12/98)

N.B. Above Chart is abstracted from Metastock Program

Index has managed to push through 1400 and continued to stay above that level.
Look for a continue move up towards 1450-1500 level for the coming week. A big correction will only be triggered, if STI plunges below 1360.

As for wave structure, it seems that we are either in a development of a diagonal 5 wave or an abc irregular flat. We should have a clearer picture in the coming week. Meanwhile trade with cautious and do not over commit yourself.

Support 1360, 1320, 1270-1250, 1180, 1160-1140, 1080, 980, 880
Resistance 1450, 1500, 1550, 1700

Events To Watch For The Coming Weeks/Months

  1. The impeachment development on US President Bill Clinton..
  2. The movement of US stock market.
  3. The stability of Regional and Singapore currencies
  4. Regional stock markets movement.
  5. Singapore 3 months Inter-bank rate.