The Straits Times Index seems to be lagging into bounces recently, Nikkei and SHCOMP
has already bounced into their targets and are consolidating whereas the Singapore index has yet to find proper footing. At this moment the STI
has gapped open and is heading straight into its 3W resistance at 3076. With little to no real support it is a prime short opportunity.
Intention: Short $ES3 @ 3.118 corresponding STI
SL: ES3 @ 3.127
Caution: The Singapore market and STI
is notorious for illiquidity and thus, traders must watch out for liquidity traps. Opportunities might be present but liquidity might not.