Morning Highlights:

Market is on a side way consolidation since last Friday. We can see that it has attempted to break 2330.22 twice but failed. Today it attempted to break 2316.56 but quickly recovered.


Now the Market is range-bounded. But we managed to spot an opportunity with City Development today for a short at 8.81, Stop Loss at 8.90 and a quick Take Profit at 8.72.

 

SGX has been weak today. Do keep a lookout when it reaches 6.87.

 

SATs Service break out at 2.11 this morning, we see a resistance at 2.18 and 2.26. For traders who would like to ride on this setup, please do enter trades with small risk.

Afternoon Highlights: 

The Market fall and create low of 2304.55 at 14:15. The index is bouncing back now, and is trading close below 2316.56.

 

On the general outlook, the market is a range-bounded zone.

 

We are interested in the Commodity Sector, mainly Wilmar and Olam.

 

Olam has broken 2.37 on Friday and has moved higher today. We will keep a close tab on it tomorrow.