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Long opportunity

Yesterday, STI dropped 26 points to 2,889.18 due to interest rate raised by India, which interesting had many of the STI components falling back to their support region like SGX, CapMallAsia (vested) and IndoAgri.

I definitely support this retracement to have some form of consolidation since in my previous post that the market has run too far away from home (20 MA) and hence taking a breather is a must to continue higher. Let’s see if STI can hold at support and go higher.

I favored the commodities sectors since like Jim Roger had mentioned, the demand will continue to drive the price, which makes perfect sense in the long run.

– The Trader –

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